IsDB to provide 180 million dollars for Mohmand Dam

The president of Islamic Development Bank, Dr Muhammad al Jasser, during his stay in Pakistan for the 48th session of OIC council of foreign affairs, met with the minister of foreign affairs Omar Ayyub Khan to discuss the financial aspect of the project of Mohmand Dam construction for the hydropower supply to Khyber Pakhtunkhwa. An agreement amounting to a total of 180 million dollars was signed for the purpose.

Both the parties discussed about the economic cooperation and decided to continue financial and developmental assistance for Pakistan.

The agreement was signed by Mian Asad Hayaud Din, secretary Economic Affairs Division and Mohammad Jamal Al Satti, special adviser to the president IsDb. The representatives from WAPDA and water resources were also a part of the signing.

“The signing of the framework agreements for Mohmand Dam and Hydropower Plant project is testimony to the continuity of the strong partnership between Pakistan and IsDB Group, in alignment with the country’s priorities and our own commitments to allocate more financing to climate-friendly projects. We are looking forward to ensuring the smooth implementation of the project and we hope to witness its operation in due time”, said Dr Muhammad al Jasser while addressing the meeting. The government heartily commended the role of the Bank in progress of the project and highlighted that this will improve the strength of the relationship between the bank and the government of Pakistan.