WB to fund 108MW Gulpur Hydropower Project

ISLAMABAD: The World Bank (WB) Board has accorded approval for financing the 108 MW Gulpur Hydropower Project to be located at Poonch River, District Kotli, AJK.
A high-level delegation of the International Finance Corporation (IFC), the arm of the World Bank, met Finance Minister Ishaq Dar on Friday and had an in-depth exchange of views on various WB sponsored development projects, says a press release.
Ishaq Dar lauded the WB Board’s decision regarding the Gulpur Power project which he said was part of government’s efforts to generate affordable energy to meet the future requirements.
He appreciated the WB’s continued support for different projects specially the 4,200 MW Dassu Hydropower Project which he said would greatly help alleviate the energy problem.
The minister further said that as Pakistan had become eligible for International Bank for Reconstruction and Development (IBRD) economic package after achieving the 15 billion dollar forex reserves mark, there would be further expansion in WB’s project funding in Pakistan.
Another World Bank team earlier had a meeting with senior officials of the Finance Ministry on Friday morning.
During the meeting the performance of the National Income Support Programme (NISP) was discussed. The delegation expressed satisfaction over the improved NISP performance saying fiscal discipline enforced by the present government had led to the improved functioning of NISP. The delegation hoped that with increased funding NISP would better reach out to poor segment of the population.