France pledges 500,000 euros grant

ISLAMABAD: France on Tuesday pledged Euros 500,000 (Rs85 million) as technical assistance to Pakistan for capacity building of the Private Power and Infrastructure Board (PPIB).

Secretary of Economic Affairs Division Syed Pervaiz Abbas, Ambassador of France Marc Barety, and Country Director of the French Agency for Development (AFD) Philippe Steinmetz signed the grant financing agreement worth Euros 0.5 million.

“This technical assistance will support PPIB in its mandate of hydroelectricity sector development in Pakistan, while enhancing competitiveness of renewable power generation,” a statement said. “Such benefits will contribute to improving affordability and scaling up supply of energy while mitigating the impacts of power generation on climate and environment, in line with the policies of the government of Pakistan.”

The technical assistance will focus mainly on developing a mechanism for tariff-based bidding of hydroelectric power projects, including preparation of standard prequalification documents and requests for proposals, assisting PPIB in matters related to the development of hydroelectric projects in the country including feasibility studies review, capacity building of PPIB staff, and provision of technical, financial, legal and management trainings.