The World Bank (WB) had approved additional financing to the tune of US $ 01 billion for the Dasu Hydropower Project, being constructed by WAPDA on the River Indus.

This was the single largest financial facility provided by the World Bank for a project in Pakistan. This facility comprises concessional financing through the World Bank arms of the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD).

The approval to this was accorded by the World Bank in its meeting, according to a WAPDA spokesman here on Tuesday.

This additional financing by the World Bank reflects the trust the Bank reposes in WAPDA’s financial strength and professional expertise for the successful implementation of mega projects in the Water and Hydropower sectors.

It was important to note that the World Bank was already providing financial support of US$ 588 million and a partial credit guarantee of US$ 460 million for the construction of the Dasu Hydropower Project.

WAPDA was constructing eight mega projects worth US$ 26 billion to add 9.7 million feet (MAF) to the water storage and double its hydel generation capacity from 9,500 to 20,000 megawatts (MW) during the next five years.

WAPDA had devised an innovative financial strategy for the construction of these projects with less reliance on the national exchequer by exploiting its financial strength. Dasu was one of these under-construction projects.

The 4320 MW-Dasu Hydropower Project was being constructed on the River Indus, upstream of Dasu Town in the Upper Kohistan District of Khyber Pakhtunkhwa Province.

The Project was planned to be completed in two stages – each stage having a generation capacity of 2160 MW.

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WAPDA is constructing Stage One of the Project.

The construction work was continuing simultaneously on key sites of the Project.

Stage one of the Dasu Hydropower Project will start electricity generation in 2026. It will contribute 12 billion units per annum to the National Grid.

Stage two will also provide another 9 billion units to the system every year.