ISLAMABAD: The World Bank (WB) will provide more than $3 billion to Pakistan for infrastructure development in the energy sector, a press release issued by the Power Division said on Monday.
Among the projects in which the multilateral lender will provide support is the Dasu hydropower project, a large hydroelectric gravity dam currently under construction near Dasu in Kohistan District in Pakistan’s Khyber Pakhtunkhwa province.
“The World Bank is assisting in energy efficiency and conservation programs, apart from helping provinces in installing solar projects,” the press release from the Power Division said.
The development followed a meeting between a World Bank delegation and Pakistani Minister for Energy Khurram Dastgir.
Dastgir told the delegation the government had taken “tough and difficult decisions” in the power sector, including an increase in electricity prices, which he said was “politically difficult” but which the government had done as it was committed to ensuring sustainability in the energy sector.
“The minister said the government is committed to providing relief to the common man. The minister appreciated that the Bank recognized the challenges faced by the country and the difficult decisions taken in wake of it,” the statement said.
The delegation was also briefed on the CASA-1000 and Dasu power projects.
Last week, the World Bank also signed two agreements with the government to extend loans worth $500 million to the Punjab and Khyber Pakhtunkhwa provinces. The loans will fund the Punjab Resilient and Inclusive Agriculture Transformation Project worth $200 million and the Khyber Pakhtunkhwa Accessibility Project worth $300 million.