World Bank Approves $1bln for Pakistan

 World Bank Approves $1bln for Pakistan

World Bank Approves $1 Billion for Dasu Dam Construction

Major Boost for Pakistan’s Economy and Renewable Energy Goals

In a significant move, the World Bank has approved $1 billion in financing for the construction of the Dasu Dam, a crucial project aimed at expanding hydropower electricity supply in Pakistan.

Project Details

The Dasu Hydropower Project (DHP) is a run-of-river project located on the Indus River in the Upper Kohistan District of Khyber Pakhtunkhwa Province. The project will have an installed capacity of 4,320-5,400 MW and will be built in stages. DHP-I, the first stage, will have a capacity of 2,160 MW and will generate 12,225 gigawatt hours (GWh) of low-cost renewable energy per year.

Objectives and Benefits

The project aims to:

  • Support the expansion of hydropower electricity supply
  • Improve access to socio-economic services for local communities
  • Build the Water and Power Development Authority’s (WAPDA) capacity to prepare future hydropower projects

The project is expected to:

  • Help Pakistan reduce its dependence on fossil fuels and reach its goal of 60% renewable energy by 2031
  • Save an estimated $1.8 billion annually by replacing imported fuels
  • Offset around 5 million tons of carbon dioxide
  • Generate an annual economic return of around 28%

World Bank’s Commitment

“The World Bank is committed to supporting Pakistan’s efforts to develop its renewable energy sector and reduce its reliance on fossil fuels,” said Rikard Liden, Task Team Leader for the Project. “The Dasu Hydropower Project is a critical step towards achieving these goals, and we are proud to be a part of it.”

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