France provides pound 120m soft loan for Keyal Khwar Hydropower Project.
ISLAMABAD -- France yesterday provided pound 120 million soft loan for Keyal Khwar Hydropower Project. Dr Kazim Naiz, Secretary of Economic Affairs Division (EAD), Nicolas Galey, Ambassador of France, and Philippe Steinmetz, Country Director of the French Development Agency (AFD), signed the Credit Facility Agreement of pound 120 million to finance the Keyal Khwar Hydropower Project. This 128 megawatt facility is located in the province of Khyber Pakhtunkhwa (KPK), near the city of Pattan. This soft loan will support the Water and Power Development Authority (WAPDA) in its mandate of hydroelectricity sector development in Pakistan. The funding will also help enhance the competitiveness of renewable power generation. Such benefits will contribute improving affordability and scaling up the energy supply. These will be achieved while also mitigating the impacts of power generation on climate and environment, in line with the policies of the Government of Pakistan. The Keyal Khwar Hydropower Project harnesses the energy potential of a tributary of the Indus River. The 128MW hydroelectric plant will produce 420 GWh/year, 25 percent of which will be peak load. This funding provided by AFD will help mitigate the flood-affected area of KPK and rehabilitation of the infrastructure while building the...
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