Financing Agreement signed for Mohmand Hydropower Dam

Mohmand Dam Hydropower Project is being constructed on Swat River in Mohmand district of Khyber-Pakhtunkhwa and the construction of this dam will generate annually 2,862 GWh of cheap and clean energy. The government of Pakistan and the OPEC Fund for International Development (OPEC Fund) signed a financing agreement amounting to $72 million for Mohmand Dam Hydropower Project (MDHP). The prestigious agreement has been signed by Aftab Ahmad Khokher, Pakistan’s Ambassador in Vienna and Dr Abdulhamid Alkhalifa, Director General, OPEC Fund on 15th June 2022 at Vienna, Austria, which has been declared effective as of 27th July 2022. The Mohmand Dam Hydropower Project is being co-financed by Saudi Fund for Development (SFD), Kuwait Fund for Development (KFD), Islamic Development Bank (lsDB), and OPEC Fund and will be completed by 2025. This also reflects the confidence of International Financial Institutions in Pakistan’s economy and its future.