The Ministry of Financial Affairs and the Water and Energy Improvement Authority (WAPDA) have signed a $25 million Sub-Mortgage Settlement (SLA) for the Mohmand Dam Hydropower Undertaking.
The settlement was signed on the Ministry of Financial Affairs on Friday. Secretary, Ministry of Financial Affairs, Dr. Kazim Niaz, Ministry of Financial Affairs, whereas Chairman WAPDA, Lt. Gen. (Rtd) Sajjad Ghani represented WAPDA.
Ambassador of Kuwait to Pakistan Nasser Abdul Rahman Jasir Al Mutairi was additionally current on this event. This vital monetary help is a part of the Kuwait Fund’s dedication to supply a complete of USD 100 million in loans for the development of the Mohmand Dam Hydropower Undertaking.
It must be famous that the general monetary help from the Kuwait Fund shall be supplied by means of 4 equal installments through which the dimensions of every installment shall be 25 million US {dollars}. The primary mortgage settlement was signed between the Authorities of Pakistan and the Kuwait Fund on 3 June 2024 in Kuwait.
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Based on APP, a spokesperson of the Ministry of Financial Affairs stated that Mohmand Dam is an infrastructure mission designed to satisfy a number of wants. It goals to generate roughly 2,862 GWh GWh of electrical energy yearly with an put in capability of 800 MW, which is able to considerably scale back the present vitality provide hole.
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2024-06-16 06:10:43
