One billion dollars have been approved by the World Bank in additional financing for Pakistan to support the Dasu Hydropower Project and the transition to clean and affordable energy.
According to the media reports, the decision to this effect was taken by the World Bank’s Board of Executive Directors in Washington today (Tuesday, June 11). This financing will support the expansion of hydropower electricity supply, improve access to socio-economic services for local communities, and build the Water and Power Development Authority’s capacity to prepare future hydropower projects, the statement of the Bank said.
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It is pertinent to mention here that the Dasu Hydropower Project site is one of the best hydropower sites in the world and is a game changer for the Pakistan energy sector. With a very small footprint, the Project will contribute to greening the energy sector and lowering the cost of electricity.
The additional financing will further support ongoing socio-economic initiatives in Upper Kohistan, particularly in the areas of education, health, employment, and transport.
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