Pakistan Secures $1 Billion Funding from World Bank

News Desk1 week ago

Details indicate that $1 billion has been approved by the World Bank to build Dasu Dam.

With the help of this funding, hydropower electricity supply will be increased, local residents will have better access to socioeconomic services, and the Water and Power Development Authority (WAPDA) will be better equipped to plan for future hydropower projects.

About 8 kilometers from Dasu Town, the provincial capital of Khyber Pakhtunkhwa’s Upper Kohistan District, lies the DHP run-of-river project on the Indus River. When it’s finished, it will have 4,320–5,400 MW of installed capacity.

The project is being developed gradually. DHP-I can produce 2,160 MW of cheap renewable energy annually, or 12,225 gigawatt hours (GWh). From the same dam, the DHP-II will add 9,260–11,400 GWh annually.

Read more: IMF Demands Hit Pakistan Development Budget

According to Task Team Leader for the Project Rikard Liden, “DHP-I is an essential project in Pakistan’s efforts to reverse its dependence on fossil fuels and reach 60 percent renewable energy by 2031.” By replacing imported fuels, the second additional financing may save Pakistan an estimated $1.8 billion a year and mitigate about 5 million tons of carbon dioxide. It will also make it easier to expand the availability of energy. DHP-I is expected to yield an economic return of about 28% per year.

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