Pakistan inks $840M WB loan for hydel plant expansion

Pakistan signed an $840 million World Bank loan for the Tarbela IV hydropower project extension to produce an additional 1,400 megawatts.

Pakistan's Economic Affairs Division Secretary Dr Waqar Masood and WB Country Director Rachid Benmessaoud signed the agreements, reports the Tribune.

According to EAD, the project will contribute about 4,000 gigawatts of low-cost non-carbon renewable energy annually. Average cost of electricity generated through the project will be 2.49 cents per unit and the project will lay the foundation for a 5th extension of Tarbela.

The loan is among the five Pakistan received from World Bank totaling $1.13 billion for improving power supply and agricultural productivity and revitalising community services in strife-torn areas of the country.