$588m accord with WB for financing of Dasu project

Published August 27, 2014
ISLAMABAD: Wapda Chairman Zafar Mahmood, right, and World Bank Country Director Rachid Benmessaoud exchange documents after signing of project agreement for the Dasu Hydropower project on Monday.
ISLAMABAD: Wapda Chairman Zafar Mahmood, right, and World Bank Country Director Rachid Benmessaoud exchange documents after signing of project agreement for the Dasu Hydropower project on Monday.

ISLAMABAD: Prime Minister Nawaz Sharif witnessed the signing ceremony of a financing agreement of $588.4 million with the World Bank relating to development of Dasu Hydropower Project on Monday night.

Another agreement for $76.4 million financing was signed for Sindh Agricul­tural Growth Project.

The project agreements of Dasu Hydropower Project were signed by the Wapda chairman and managing director of National Trans­mission and Dispatch Company (NTDC) and World Bank Country Director Rachid Benmessaoud.

Also read: World Bank unanimously approves Dasu project

The project agreement of Sindh Agricultural Growth Project was signed by Secretary of Agriculture, Sindh, and Country Director of World Bank, according to a press release issued by the Prime Minister’s office here on Tuesday.

The prime minister was informed that Dasu Hydro­power Project has the potential of producing 4,320MW electricity which would be developed in two phases.

Under Phase-I, 2160MW electricity will be produced which will be extended to 4,320MW in future under Phase-II.

The Sindh Agricultural Growth project would imp­rove agriculture and livestock sector productivity of Sindh.

The project will use a value chain approach to provide direct investment support to farmers and small and medium producer groups for development of more effective and efficient farming systems; and introduction of technology packages for increased productivity and value-addition and improved market access.

The ceremony was attended by federal ministers Senator Pervaiz Rashid, Ahsan Iqbal and Khawaja Muhammad Asif, Abid Sher Ali, Sindh ministers Ali Nawaz Mehr, Jam Khan Shoro among senior officers.

Published in Dawn, August 27th, 2014

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