ISLAMABAD: A Kuwait Fund Appraisal Mission is on a visit to Pakistan to discuss and finalise loan agreement on Mohmand Dam Hydropower project, official sources told Business Recorder. The kick-off meeting between the Kuwait Fund Appraisal Mission and officials of Economic Affairs (EAD) and other concerned officials will be on October 20, 2022.
The sources said the wrap-up meeting will be October 31, 2022 wherein Kuwait Fund Appraisal Mission will submit the draft loan agreement to EAD for review, discussion of all concerned stakeholders to draft loan agreement. According to sources, on November 1, 2022, both sides will initial the draft loan agreement in presence of all stakeholders.
The government recently signed an agreement with OPEC Fund for International Development for a loan of $72 million for Mohmand Dam Hydropower project.
Mohmand Dam hydropower project: $72m worth agreement signed with OPEC Fund
Mohmand Dam, damaged in recent floods is an under construction multi-purpose concrete-faced rock-filled dam on Swat river about 5km upstream of Munda Head Works in Mohmand Tribal District, KP. The objective of dam is flood mitigation, irrigation/agriculture development of 16,737 acres, further enhancement of command area will be assessed as per request of Govt of Khyber Pakhtunkhwa, hydel generation and socioeconomic uplift of people of the area.
The dam will have a 1.6 million m3 reservoir and diversion tunnels that will feed into new and existing irrigation canals. Once completed, the Mohmand Dam will increase the country’s installed renewable capacity by 800MW and provide sustainable potable water to two million residents in Peshawar city. The project will also enhance food security through higher crop yields on almost 15,000 hectares of farmland, while improving the region’s resilience to floods.
Copyright Business Recorder, 2022
Comments
Comments are closed for this article.