Washington- The World Bank has unanimously approved assistance package for Pakistan's Dasu Hydropower project. In a meeting in Washington, Board of Directors of the Bank endorsed the Dasu project with an overwhelming majority with all the members including the United States voting in favor of the project.
Dasu Hydroelectric Power is a critical project to meet Pakistan's energy needs with a potential to generate 4200 MW of cheap electricity. The decision by the World Bank to support the project is a reflection of the international financial institutions' confidence on Pakistan's economic revival and its clear vision to overcome the energy requirements of the country.
The US support for the project is in line with the commitment made by the leadership of the two countries to enhance cooperation in the energy sector.
The World Bank loans are purely concessionary and cheap in nature with repayment schedule spanning over twenty five years including five years grace period, with no interest and a nominal administrative charges of 2 percent per annum.