Power, agriculture: World Bank signs $665m financing agreements

Projects are aimed at boosting electricity output, agriculture growth.


APP August 26, 2014

ISLAMABAD: Pakistan and World Bank have signed financing agreements worth $588.4 million and $76.4 million for the development of Dasu hydropower project and Sindh Agricultural Growth Project respectively.

The Water and Power Development Authority (Wapda) chairman, National Transmission and Dispatch Company (NTDC) managing director and World Bank Country Director Rachid Benmessaoud inked the agreement for the Dasu project.

For the agriculture growth programme, the Sindh Agriculture Department secretary and World Bank country director signed the accord, said a press release issued by the Prime Minister’s Office on Tuesday. Prime Minister Nawaz Sharif was also present on the occasion.

Dasu hydropower project, which has the potential of producing 4,320 megawatts of electricity, will be developed in two phases. Under phase-I, 2,160MW will be produced, which will be increased to 4,320MW under phase-II.

The agricultural growth project would improve the productivity of the agriculture and livestock sector in Sindh.

The project will adopt a value-chain approach for providing direct investment support to the farmers and small and medium producer groups for the development of more effective and efficient farming systems. This will include the introduction of technology packages for higher productivity and value addition, and improved market access.

The ceremony was attended by Information and Broadcasting Minister Pervaiz Rashid, Planning, Development and Reform Minister Ahsan Iqbal and Water and Power Minister Khawaja Asif.

Others present were State Minister for Water and Power Abid Sher Ali, Sindh Agriculture Minister Ali Nawaz Mehr and Sindh Livestock and Fisheries Minister Jam Khan Shoro.

Published in The Express Tribune, August 27th, 2014.

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