ISLAMABAD: The government of Pakistan and the OPEC Fund for International Development (OPEC Fund) signed a financing agreement amounting to $72 million for Mohmand Dam Hydropower Project (MDHP).

The financing agreement was signed by Aftab Ahmad Khokher, Pakistan’s Ambassador in Vienna and Dr Abdulhamid Alkhalifa, Director General, OPEC Fund on 15th June 2022 at Vienna, Austria, which has been declared effective as of 27th July 2022.

The Mohmand Dam Hydropower Project is being co-financed by Saudi Fund for Development (SFD), Kuwait Fund for Development (KFD), Islamic Development Bank (lsDB), and OPEC Fund and will be completed by 2025.

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The signing of this agreement also reflects the confidence of International Financial Institutions in Pakistan’s economy and its future.

Mohmand Dam Hydropower Project is being constructed on Swat River in Mohmand district of Khyber-Pakhtunkhwa. The construction of this dam will not only generate annually 2,862 GWh of cheap and clean energy but also enhance.

Copyright Business Recorder, 2022