Diamer Basha, Mohmand Dams WAPDA Chairman discusses Financing with KFD, IDB

Diamer Basha, Mohmand Dams WAPDA Chairman discusses Financing with KFD, IDB

Pic IDB KFDNovember 18, 2019: Diamer Basha and Mohmand Dams are vital for water, food and energy security of Pakistan and possess excellent investment opportunities for international financial institutions because of their good rate of returns.

Pakistan Water and Power Development Authority (WAPDA) Chairman Lt Gen Muzammil Hussain (Retd) stated this while talking to the delegations of Kuwait Fund for Development (KFD) and Islamic Development Bank (IDB) that called on him at WAPDA House today. The delegations are on a 2-day visit to WAPDA House to explore investment opportunities in WAPDA projects, Diamer Basha and Mohmand Dam in particular. WAPDA Member (Finance), Advisor (Finance) and General Manager (Finance) Power were also present on the occasion.

WAPDA Chairman, dilating upon financial strength of the organization, said that WAPDA holds a strong asset base, therefore, enjoys trust of national and international financial institutions to arrange funds for its projects. He apprised the delegations that WAPDA completed three mega hydropower projects – the 969 MW-Neelum Jhelum, the 1410 MW-Tarbela 4th Extension and the 108 MW-Golen Gol –with the support of foreign and local financial institutions last year, which added unprecedented 2487 MW of hydel electricity to the National Grid. Similar to the other WAPDA projects, KFD and IDB will come forward for investment in Diamer Basha and Mohmand Dams as well to become partners in progress with Pakistan, he expressed the hope.

Later, KFD delegation head Dr. Muhammad Sadequi said that their institution has great respect for WAPDA because of its achievements in water and hydropower sectors. He said that Kuwait and Pakistan maintain good relationship for decades. Elaborating their concept of development, he said that KFD focuses on development of indigenous renewable resources including hydel electricity for maximizing the benefits. KFD is ready to invest in the projects which are technically sound and financially viable, he added.

IDB delegation head Yerzhan Jalmukhanov said that largest chunk of IDB investment in Pakistan has been made in energy sector. Referring to the completed and ongoing projects funded by IDB in Pakistan, he said that their objective is to help Pakistan for its energy security.