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You Are At Technology TimesNewsWB signs $665m financing for power, agriculture projects


WB signs $665m financing for power, agriculture projects

STAFF REPORT ISB: Pakistan and World Bank have signed financing agreements worth $588.4 million and $76.4 million for the development of Dasu hydropower project and Sindh Agricultural Growth Project respectively.
The Water and Power Development Authority (Wapda) chairman, National Transmission and Dispatch Company (NTDC) managing director and World Bank Country Director Rachid Benmessaoud inked the agreement for the Dasu project.
For the agriculture growth programme, the Sindh Agriculture Department secretary and World Bank country director signed the accord, said a press release issued by the Prime Minister’s Office on Tuesday. Prime Minister Nawaz Sharif was also present on the occasion.
According to the details, Dasu hydropower project, which has the potential of producing 4,320 megawatts of electricity, will be developed in two phases. Under phase-I, 2,160MW will be produced, which will be increased to 4,320MW under phase-II.
The agricultural growth project would improve the productivity of the agriculture and livestock sector in the province.
The project will adopt a value-chain approach for providing direct investment support to the farmers and small and medium producer groups for the development of more effective and efficient farming systems. This will also include the introduction of technology packages for higher productivity and value addition, and improved market access.

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