World Bank Commits $1.535 Billion to Climate Resilience and Hydropower in Pakistan
According to the official statement by the World Bank, the first project, worth $400 million, will focus on reducing the impact of climate change in Pakistan, particularly in the agricultural sector.
The funds will be used to improve crop yields and protect the sector from the effects of climate change.
The second project, worth $135 million, will aim to improve the livestock sector in Sindh, making it more resilient to climate change.
This financial assistance from the World Bank will support Pakistan’s efforts to address the challenges posed by climate change and promote sustainable agriculture practices.
Earlier on June 11, the World Bank (WB) approved Rs1 billion for Pakistan in a major relief for the country’s ill economy.
WB offers support to Pakistan in achieving development goals
The World Bank approved $1 billion for the construction of Dasu Dam.
This financing will support the expansion of hydropower electricity supply, improve access to socio-economic services for local communities, and build the Water and Power Development Authority’s (WAPDA) capacity to prepare future hydropower projects.
DHP is a run-of-river project on the Indus River about 8 km from Dasu Town, the capital of the Upper Kohistan District of Khyber Pakhtunkhwa Province. It will have an installed capacity of 4,320–5,400 MW upon completion.
It is pertinent to mention here that the World Bank (WB) has expressed readiness to extend technical assistance and financial support to help Pakistan achieve its developmental objectives.
South Asia Regional Vice President of the World Bank Martin Raiser said the World Bank (WB) Group will provide necessary support to the government in implementing its reform agenda.
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