WB may provide $1b for the Dasu project

ISLAMABAD:

The World Bank is likely to approve a new $1 billion loan for the Dasu Hydropower Project, as the cost of the project increases by 190.1% to Rs1,700 billion mainly because of delay in land acquisition and a 178% depreciation of the rupee against the US dollar, sources have said.

The Dasu Hydropower project, a massive water and electricity project, is being built in two phases. It will generate 2,160 megawatts (MW) of electricity in the first phase and after the completion of the second phase, the total generation would rise to 4,320MW.

The sources have said that the World Bank has already provided $588 million in loans and $460 million in guarantees.