Islamabad: The government of France would provide soft loans of € 120 million for Keyal Khuwar 128 MW Hydropower Project located in Khyber Pakhtunkhwa province.
According to press release issued by Economic Affairs Division, Secretary, Ministry of Economic Affairs (MoEA), Dr. Kazim Niaz and Country Director, French Agency for Development, Philippe Steinmetz signed an agreement in this regard here on Monday.
The French loan assistance will support 128 MW facility, located near the city of Pattan in KPK, the statement said adding the loans would support the Water and Power Development Authority (WAPDA) in its mandate of hydroelectricity sector development in Pakistan.
The funding would also help enhance the competitiveness of renewable power generation thus promoting affordability and scaling up the energy supply.
According to the statement, the project would contribute to the government’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 France government through French Agency for Development has been working in Pakistan, providing technical and financial support in the energy and urban development sector aiming at green investment in Pakistan.
On the occasion, Secretary, Ministry of Economic Affairs thanked the French government and AFD for extending this financial assistance to Pakistan.