Dasu Hydel Project: World Bank ‘expected’ to approve assistance for dam

Managing Director to visit Pakistan to discuss development plans.

ISLAMABAD: World Bank (WB) Country Director, Rachid Benmessaoud on Monday said that the international lender is expected to approve assistance for Dasu Hydel Power Project. The director called on Finance Minister Ishaq Dar and discussed issues related to the World Bank’s assistance to Pakistan.

He said that the WB is encouraged by the positive trend of economic indicators and is expected to approve the assistance for the power project.

“The managing director of the World Bank, Sri MulyaniIndrawati, will be visiting Islamabad in the last week of March to discuss Pakistan’s development projects,” Benmessaoud said.

He informed the minister about the preparations being made in connection with her visit. The finance minister expressed hope that the visit will be a successful one and will open the road to co-operation in many areas of mutual interest.

“Pakistan’s economy is moving in the right direction and the government will continue to engage with the World Bank for assistance in energy and infrastructure development programmes,” said Dar.

In line with the vision of the Prime Minister to make Pakistan a developed and a prosperous country, the government has embarked upon a plan to meet the energy requirements and to make the country economically viable, he added.

“World Bank’s assistance in the energy and development projects will help Pakistan progress,” he emphasised.

The meeting was also attended by Finance Secretary Dr Waqar Masoud, Economic Affairs Division Secretary Nargis Sethi, Special Assistant to Finance Minister Shahid Mahmood and other senior officials of the ministry of finance.

Published in The Express Tribune, March 18^th, 2014.

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