A 6-member delegation of the Islamic Development Bank (IDB), headed by its President Dr. Bandar M. H. Hajjar called on Chairman Pakistan Water and Power Development Authority (WAPDA) Lt Gen Muzammil Hussain (Retd) to discuss potential support for development of a program to facilitate construction of hydropower projects in Pakistan.
Speaking on the occasion, WAPDA Chairman appreciated IDB for providing financial assistance to complete various WAPDA projects in hydropower sectors. “IDB and WAPDA has longstanding relationship of mutual cooperation, and I am confident this cooperation will further strengthen for upcoming WAPDA projects” The Chairman said that WAPDA holds a strong asset base, therefore, enjoys trust of national and international financial institutions for arrangement of funds for its projects. WAPDA hydropower projects provide excellent investment opportunities and like other institutions, IDB can also make benefit of the opportunities for investing in these projects. He also briefed the delegation about the upcoming WAPDA projects including Mohmand Dam, Diamer Basha Dam and Keyal Khwar.
The IDB President, showing keen interest in financing hydropower projects, thanked WAPDA for arranging such a useful briefing for them. He also congratulated WAPDA on the recent landmark of Neelum Jhelum Hydropower Project to generate 1040 MW – successful operation of the project at 108% beyond its installed capacity of 969 MW. He said that IDB feels honoured to be a leading partner in development of this engineering marvel.
It is worth mentioning that the IDB provided US $ 357.6 million for construction of 969 MW-Neelum Jhelum Hydropower Project. In addition, it had also provided financial assistance to the tune of US $ 150.2 million for three high head hydropower projects namely Khan Khwar, Duber Khwar and Allai Khwar with cumulative generation capacity of 323 MW.