ADB mulls financing projects

LAHORE: A 5-member delegation of Asian Development Bank (ADB) met WAPDA chairman (Retd) Lt Gen Sajjad Ghani on Monday, where the delegation showed keen interest in financing of WAPDA projects, a statement said.

Ghani briefed the ADB delegation, headed by its country director Yong Ye, about clean and green energy generation plan of WAPDA to add low-cost cheap and environment-friendly hydel electricity to the national grid for stabilising power tariff in the country.

He further informed the delegation about an innovative financing strategy for under-construction WAPDA projects, Diamer Basha Dam and Mohmand Dam Hydropower Project in particular, and investment opportunities therein for international financial institutions.

The portfolio of WAPDA’s upcoming projects, including Patan and Thakot Hydropower Projects, was also presented to the delegation for Projects Readiness Financing by ADB. The matters relating to financing of Naulong Dam Project were also discussed during the meeting.

Speaking on the occasion, the country director said ADB and WAPDA had been partners in progress of water and hydropower resources in Pakistan since long. The delegation, during the meeting, showed keen interest in financing of WAPDA projects.