Foodpanda, Government of Punjab, Wasl Launch Electric Bikes
February 5, 2025
UBL Becomes First Pakistani Bank to Hit Rs 500B
February 5, 2025
The World Bank has approved an additional $1 billion #loan for Pakistan’s Dasu Hydropower Project. This funding aims to expand hydropower #electricity supply and improve local communities’ access to socio-#economic services. The project is located on the Indus River near #Dasu in Kohistan District, Khyber Pakhtunkhwa #Province. Wapda is overseeing the #development.
The Dasu #Hydropower Project is being #constructed in two stages. Stage I will have a capacity of 2,160 megawatts (MW), generating approximately 12,225 gigawatt-hours (GWh) of #renewable energy annually. Upon completion of Stage II, the total capacity will double to 4,320 MW.
The project’s estimated cost has increased from Rs586 billion to Rs1,700 billion, primarily due to delays in #land acquisition, security challenges, and the depreciation of the Pakistani #rupee. The World Bank’s financing package includes $800 million from the International Development Association and $200 million from the International Bank For Reconstruction & Development. Of the IDA funds, $435 million will be #interest-free, while the remaining $365 million and the IBRD loan will carry interest rates of 5.83% and 6.13%, respectively.
Originally scheduled for completion by 2023-24, the first phase is now expected to be #operational by 2027-28. The delay is mainly due to prolonged land #acquisition processes, which extended from 2014 to 2021-22, significantly impacting timelines and #costs.
