World Bank assures financial and technical assistance for Pakistan's hydro-power projects

Dar requested World Bank to support Pakistan's projects on Indus River cascade


APP April 25, 2017
PHOTO: REUTERS

ISLAMABAD: World Bank (WB) President, Dr Jim Yong Kim, on Monday, assured technical and financial assistance for Pakistan's hydro-power schemes including Dasu and Tarbela projects.

He made the comments during a meeting with Finance Minister, Ishaq Dar, who called on the WB president in Washington, according to a press statement. The meeting, to discuss the World Bank's portfolio in Pakistan, was also attended by the governor of State Bank of Pakistan [SBP], secretary Economic Affairs Division (EAD), Pakistan's executive director at the World Bank and its CEO, managing director and senior management.

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During the meeting, Dar acknowledged the WB's role in resolving the Indus Water Treaty disputes. Urging to expedite the progress, he said the resolution "would lead to water security in the region".

The minister also apprised President Kim over the macro-economic situation in the country. "The focus was on making growth sustainable," he said, adding that Pakistan's economy was set to grow by over five per cent in the fiscal year ending in June 2017.

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According to the finance minister, the government was focusing on social sectors by taking innovative measure - Pakistan Development Fund and Pakistan Infrastructure Bank - to maintain a higher growth trajectory. Highlighting the potential for hydro-power generation and water storage, Dar requested support from the organisation for Pakistan's projects on the Indus River cascade.

COMMENTS (1)

Rehan Khan | 4 years ago | Reply Pakistan us blessed with potential Hydro energy across Indus river cascade. It not only meets our growing energy needs but also helps manage our water supply boosting agriculture. there are some minor concerns around negative impact on quality of silt on indus banks, but benefits far outweigh the concerns. We had hydro dams feasibility ready for over a decade but western monetary orgs were not willing to fund on political grounds. Now China has come forward to fund it in tune of ~ $50B, based on the viable feadibilty studies by us, turning their heads. We are moving ahead with these nationally strategic projects regardless, to improve the standard of life in Pakistan Inshallah.
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