Wednesday, 19 June 2024, 05:20:57 am

World Bank approves $1b for Dasu Hydropower Project
June 11, 2024

The World Bank has approved one billion dollar additional financing for Pakistan to support Dasu Hydropower Project and the transition to clean and affordable energy.

A decision to this effect was take in the World Bank's Board of Executive Directors in Washington.

According to a statement of the Bank, 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 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.