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October 17, 2023

World Bank accords approval to five energy projects

Finance Minister Senator Ishaq Dar has appreciated the recent approval of countrys five energy projects by the World Banks Executive Board. In a statement, he said this approval was the manifestation of confidence of international organizations in the continued improvement in countrys economy owing to prudent fiscal policies of the government led by Prime Minister Nawaz Sharif.

The board of executive directors of the World Bank has approved five energy sector projects, which include Gul Ahmed wind power limited, Tenaga Generasi limited (wind power), Gulpur hydro project, Sindh Public Sector Reform project and acceleration of Tarbela IV extension project.

The Banks approval is in line with the governments 4Es  education, economy, energy and elimination of terrorism  policy, he said. Dar said the projects added a new chapter to the Pak-World Bank economic co-operation. He assured that these projects would be undertaken with due diligence and completed within the tenure of the present government.

This is the largest ever portfolio approved by the World Bank in one month. The energy projects are expected to add over 10,000 MW to the national energy grid.