France will provide Pakistan loan assistance worth €120 million for the 128 MW Keyal Khuwar Hydropower Project.
Ministry of Economic Affairs (MoEA) Secretary Dr. Kazim Niaz and French Agency for Development (AFD) Country Director Philippe Steinmetz signed the Loan Financing Agreement worth € 120 million for the project.
The French loan assistance will support the 128 MW facility, located in Khyber Pakhtunkhwa (KP), near the city of Pattan. This soft loan will support the Water & Power Development Authority (WAPDA) in its mandate of hydroelectricity sector development in Pakistan.
The funding will also help enhance the competitiveness of renewable power generation thus promoting affordability and scaling up the energy supply. These will be achieved while also mitigating the impacts of power generation on climate and the environment, in line with the policies of the Government of Pakistan.
The project will contribute to the Government of Pakistan’s strategy to develop green energy, reduce greenhouse gas emissions, and climate-friendly projects, in line with the French pledge and commitments announced at the International Conference on Climate Resilient Pakistan, which took place in Geneva on January 9, 2023.
The Republic of France through the French Agency for Development is working in Pakistan providing technical and financial support in the energy and urban development sector aiming at green investment in Pakistan. The Secretary thanked the French government and AFD for extending this financial assistance to Pakistan.
To whom peoples spit run to lick them. The Molanas in cabinet were insisting people to boycott France. Now when soft loan is coming there is a complete silence. Perhaps they learned how to deal internationally.