France provides soft loan of €120mn for Keyal Khuwar 128 MW hydropower project

January 17, 2023 (MLN): The government of France will provide soft loans worth €120 million to Pakistan for Keyal Khuwar 128 MW Hydropower Project, said a press statement issued on Monday.

Dr. Kazim Niaz, Secretary of the Ministry of Economic Affairs (MoEA), and Mr. Philippe Steinmetz, Country Director of the French Agency for Development (AFD) signed the loan financing agreement. 

The French loan assistance will support a 128 MW facility, located in the province of Khyber Pakhtunkhwa (KPK), near the city of Pattan, and 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 Pakistan's government.

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, it noted.

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