Pakistan, IsDB sign $180m pacts to finance Mohmand Dam

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Pakistan and Islamic Development Bank (IsDB) Monday signed three Framework Agreements amounting to US$ 180 million to provide financing for the Mohmand Dam Hydropower Project (MDHP).

The financing agreements were signed by Secretary Economic Affairs Division Mian Asad Hayaud Din and Special Adviser to the President, IsDB Mohammad Jamal AlSatti. The signing ceremony was witnessed by President IsDB Dr. Muhammad Al Jasser and Minister for Economic Affairs Omar Ayub Khan.

The representatives of Ministry of Water Resources and Water & Power Development Authority (WAPDA) were also present at the occasion. Mohmand Dam Hydropower Project is a multi-purpose Concrete Faced Rock fill Dam being constructed on Swat River located at a distance of about 48 km from Peshawar and 5 km upstream of Munda Head Works in Mohmand District of Khyber Pakhtunkhwa which in addition to generate 1300 MW electricity, will enhance Pakistan’s Water Storage Capacity by 1,293-million-acre feet (MAF), provide food security buffer, provide 13.32 cubic of clean drinking water to the residents of Peshawar city and create more than 6,000 direct new employment opportunities for the local people.

Earlier President IsDB, Dr. Muhammad Al Jasser called on Minister for Economic Affairs Omar Ayub Khan and discussed the matters of mutual interest—APP

 

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