The Water and Power Development Authority (WAPDA) has announced that it will launch its second $500 million green Eurobond, named “Indus bond,” within a year, reported Business Recorder.
Chairman WAPDA, Muzammil Hussain, informed that the Authority had started work on the new Eurobond. He mentioned that WAPDA had raised $500 million through its first launch of green Eurobond at an interest rate of 7.1 percent. During the first launch, a total of 201 investors had turned up to finance the company through the green Eurobond as it was declared stable by three different rating agencies.
The Chairman also mentioned that currently, there were ten hydropower projects under construction, whereas five more were ready to be constructed. Furthermore, feasibility studies of ten additional projects had been completed, and many other projects were at the planning stage.
Moreover, Hussain also revealed that two foreign companies, AFD from France and KFW from Germany, were in WAPDA House nowadays to discuss the details of financing the Keyal Khwar Project.
According to Muzammil Hussain, the Dasu and Mohmand Dams would be completed by 2025-26, creating 12 billion and 4 billion units of electricity, respectively. He further said that these two dams would generate significant revenue for the authority, which would help in projects such as Diamir Basha Dam, Skardu Dam, and Kala Bagh Dam.
