ADB explores increased financing for WAPDA

Delegation visits Wapda House, highlights hydropower potential

LAHORE:

A delegation from the Asian Development Bank (ADB) Alternate Executive Directors visited Water and Power Development Authority (Wapda) House and discussed financing opportunities for Wapda projects, according to a statement released on Thursday.

According to the statement, the delegation was briefed that Pakistan has about 70,000 MW of identified hydropower potential. Wapda owns and operates 22 hydel power stations with a cumulative generation capacity of 9459 MW, which will more than double with the phased completion of ongoing projects from 2025 to 2028-29, adding about 10,000 MW of clean, green, and economically affordable electricity. Wapda plans to improve the ratio of low-cost hydel electricity in the national grid from the existing 29% to 40% by 2030 and 50% by 2050.

Read Pakistan has highest living cost in Asia: ADB

The delegation was also informed about the progress on ADB-funded Wapda projects namely Naulong Dam Multi-purpose Project, Kurram Tangi Dam Stage-II, and Patan Hydropower Project. Wapda’s development portfolio, including Mohmand Dam, Diamer Basha Dam, and Keyal Khwar, was presented for financial assistance consideration. The member (Finance) apprised the delegation about Wapda’s financial strategy, highlighting its technical and financial credibility among international financial institutions, including the World Bank.

In his welcome remarks, the chairman termed ADB a valuable partner and said Wapda has greatly benefited from the bank’s support. He suggested ADB upscale its engagements with Wapda from medium to large and then to strategic projects.

Appreciating Wapda’s institutional strength, the delegation expressed interest in enhancing financing for upcoming Wapda projects.

Published in The Express Tribune, May 24^th, 2024.

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