Pakistan has secured a $1 billion loan from the World Bank to support the Dasu Dam project in the Kohistan district of Khyber Pakhtunkhwa.
In a significant stride towards achieving affordable electricity, this external funding comes at a crucial time as the country grapples with challenging economic conditions.
The loan will be allocated to the first phase of the Dasu Hydropower Project, which is expected to generate an estimated 2,160 megawatts of electricity initially. Upon completion, the project aims to produce between 4,320MW and 5,400MW, marking a substantial boost to Pakistan's energy supply.
The World Bank has highlighted that Pakistan's energy sector is faced with numerous challenges, and identified the Dasu project as one of the world's premier hydropower sites. The project is expected to significantly improve and expand the power supply, providing cheaper electricity and enhancing access to social and economic opportunities for the Pakistani population.
"The Dasu Hydropower Project will play a pivotal role in addressing Pakistan's energy needs, ensuring a more reliable and affordable power supply," stated a World Bank spokesperson. "This initiative is not just about energy; it's about empowering communities and fostering economic development."
As the project progresses, it promises to be a cornerstone in the country's mission to provide sustainable and affordable electricity to its citizens, ultimately contributing to broader social and economic improvements.
