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
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.
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.
Experts highlight benefits of utilising renewable energy
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.
Pakistan has ‘2.9 million MW solar energy potential’
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.