Government Secures Loan For Hydropower Projects
News: The Pakistani government secured a PKR8.5bn (USD87mn) loan from France to support the construction of 785MW of hydropower plants (HPPs) in the country. The funds will be allocated to the construction of the 740MW Mohmand hydropower plant in the province of Khyber Pakhtunkhwa and the 35MW Harpo plant in the territory of Gilgit-Baltistan. Phase one of the larger complex will be financed by the French Development Agency and will allow the country to make a detailed engineering design, complete preparatory works and gain financial closure on the project. The 35MW HPP will also be funded by the Pakistani government and Germany's KfW Ipex-Bank. Agence Francaise de Developement (AFD) also offered loans to develop the 22MW Jabban run-of-river HPP in Khyber Pakhtunkhwa and the 48MW Jaggran-II HPP. Besides, AFD approved EUR2.5mn (USD3.4bn) to set up a hydropower training institute in the country.