ADB Shows Keen Interest in Financing WAPDA Projects

The Asian Development Bank (ADB) has shown a keen interest to finance the projects undertaken by the Water and Power Development Authority (WAPDA). A 5-member delegation headed by ADB’s Country Director Yong Ye called on Chairman WAPDA Lt. Gen. (R) Sajjad Ghani here on Monday. The delegation was briefed about the clean and green energy generation plan of WAPDA which is meant to add low-cost and environment-friendly hydel electricity to the national grid for stabilizing power tariff in the country. The delegation was apprised that the projects carried out by WAPDA possess excellent investment opportunity The delegation was further informed about the innovative financing strategy for under-construction projects of WAPDA, particularly the Diamer Basha and Mohmand Dam Hydropower projects, and investment opportunities therein for international financial institutions. The portfolio of WAPDA’s upcoming projects, including the Pattan and Thakot Hydropower projects, was also presented to the delegation for project readiness financing by ADB. The matters concerning the financing of the Naulong Dam project were also discussed during the meeting. Speaking on the occasion, the Country Director ADB said that ADB and WAPDA have been partners in the progress of water and hydropower resources in Pakistan since a long time.