Staff Report
ISLAMABAD: The Government of France will provide soft loans of 120 million Euros for the Keyal Khuwar 128 MW Hydropower Project in the Khyber Pakhtunkhwa province of Pakistan.
According to the Economic Affairs Division press release, Secretary of Economic Affairs Dr Kazim Niaz and Country Director of the French Agency for Development, Philippe Steinmetz, signed an agreement on Monday.
The French loan would support the 128 MW facility near Pattan in Khyber Pakhtunkhwa. It would also help WAPDA in its mandate of hydroelectricity sector development in Pakistan.
The funding would also help in enhancing the competitiveness of renewable electricity generation, thus promoting affordability and scaling up the energy supply in the country.
Keyal Khuwar Hydropower project
According to the press release, the Keyal Khuwar project would contribute to the strategy of the government to develop green energy, reduce greenhouse gas emissions, and climate-friendly projects.
This will align with the French announcement and commitments at the International Conference on Climate Resilient Pakistan in Geneva.
The government of France, through the French Agency for Development, is rigorously working in Pakistan to provide technical and financial support in the energy sector and urban development, aiming at green investment in the country.
While signing the agreement, the Secretary of Economic Affairs thanked AFD and the French Government for extending financial assistance to Pakistan.
