ADB Country Director, Chairman WAPDA discuss financing of projects

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A 5-member delegation of Asian Development Bank (ADB), headed by its Country Director Yong Ye, called on Chairman WAPDA Lt Gen Sajjad Ghani (Retd) on Monday and discussed financing of various WAPDA projects.

The delegation was briefed about clean and green energy generation plan of WAPDA to add low-cost cheap and environment-friendly hydel electricity to the National Grid for stabilizing power tariff in the country, said a press release.

Delegation was briefed about WAPDA’s energy generation plan, innovative financing strategy and investment opportunities. ADB delegation showed keen interest in financing of WAPDA projects.

The delegation was apprised that WAPDA projects have excellent investment opportunities. The delegation was further informed about the innovative financing strategy for under-construction WAPDA projects, Diamer Basha Dam and Mohmand Dam Hydropower Project in particular, and investment opportunities therein for international financial institutions.

The portfolio of WAPDA’s upcoming projects, including Patan and Thakot Hydropower Projects, was also presented to the delegation for Projects Readiness Financing by ADB. The matters relating to financing of Naulong Dam Project were also discussed during the meeting.

Speaking on the occasion, the Country Director said that ADB and WAPDA have been partners in progress of water and hydropower resources in Pakistan since long. The delegation, during the meeting, showed keen interest in financing of WAPDA projects.

Member (Finance) WAPDA and Member (Power) WAPDA were also present on the occasion.—APP

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