France has provided Euro 180 million soft loan to Pakistan for financing the National Transmission and Despatch Company (NTDC) transmission lines and grid stations projects located in Vehari, Aarifwala and Sialkot.
Federal Secretary, Ministry of Economic Affairs Dr Kazim Niaz, Ambassador of France Nicolas Galey and Philippe Steinmetz, Country Director of the French Development Agency (AFD), signed the Credit Facility Agreement, said a press release issued here Wednesday.
This loan will support the NTDC in its transmission mandate to provide reliable and efficient power supply in major cities of Punjab. The funding will also help enhance the transmission of efficient power distribution in Pakistan. Such benefits will contribute to improving affordability and scaling up the energy supply. Since most of the power generation in the country is through the hydel sources, hence the projects will help mitigate impacts of climate change through transmission of green energy, in line with the policies of the Government of Pakistan and its commitment to fight climate change.
It is also part of the pledge and commitments announced by France at the International Conference on Climate Resilient Pakistan in Geneva on January 9, 2023.
The Republic of France, through the French Development Agency, is providing technical and financial support in several sectors such as energy, water and sanitation, urban development, and cultural heritage.
