Key points:

• The World Bank has approved a $1 billion loan for Pakistan’s Dasu Hydropower Project.
• The project’s first phase aims to generate 2,160 megawatts of electricity to combat the energy crisis.
• The hydropower plant will eventually expand to a capacity of 4,320 MW.
• This loan reflects the World Bank’s support for Pakistan’s development and economic growth.

In a development that has sent an impetus to the country’s energy sector, the World Bank has approved a loan of $1 billion to be provided for the financing of the Dasu Hyropower Project in Pakistan. With this funding, the completion of the project would be expedited once it got under way. In its first phase, the Dasu Hydropower Project is targeted to produce 2,160 megawatts of electricity.

The Dasu Hydropower Project is an important link in Pakistan’s strategy to meet its requirement of overcoming the energy crisis; once this runs on low-cost as well as sustainable power once operational, therefore really helping to stem the nation’s forthgoing energy crisis.

The first phase of the project—supported by the newly updated loan—will build a 2,160 MW hydropower plant, which will be upgraded to 4,320 MW in the long term. It is part of several programs either under way or planned to tap renewable energy potential and improve infrastructure in Pakistan.

The loan approval showers the eagerness of the World Bank towards the development goals of Pakistan. This investment is most likely to result in benefits for the energy sector, and also be a driver for economic growth in the country through the reliable supply of power to industries and households.

As an important step in Pakistan for such a change, the Dasu Hydropower Project does brighten the prospects of having a more stable and sustainable future on the energy front.

Also Read: Pakistan Concludes New $7 Billion Loan Deal with IMF.