World Bank agrees to give $1 billion to Pakistan: In a big help for Pakistan’s struggling economy, the World Bank has agreed to provide Rs1 billion.
The World Bank has agreed to provide $1 billion for the construction of Dasu Dam. This funding will help increase the supply of hydropower electricity, improve access to services for local communities, and enhance the capacity of the Water and Power Development Authority (WAPDA) to plan future hydropower projects.
Dasu Hydropower Project (DHP) is located on the Indus River near Dasu Town in the Upper Kohistan District of Khyber Pakhtunkhwa Province. Once completed, it will have a capacity to generate between 4,320 to 5,400 megawatts of electricity through run-of-river technology.
The Dasu Hydropower Project is being developed in multiple phases. DHP-I will have a capacity of 2,160 megawatts (MW) and is expected to generate 12,225 gigawatt hours (GWh) of renewable energy each year. DHP-II will further increase this capacity, adding 9,260 to 11,400 GWh per year.
According to Rikard Liden, who leads the project team, DHP-I is crucial for Pakistan’s goal of reducing its reliance on fossil fuels and increasing renewable energy to 60 percent by 2031. The additional financing for DHP-II will expand electricity supply and could save Pakistan approximately $1.8 billion annually by reducing the need for imported fuels. Additionally, it is expected to offset around 5 million tons of carbon dioxide emissions. The project’s economic return is estimated to be about 28 percent annually.
