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World Bank approves loan for Dasu project

ISLAMABAD: The World Bank has approved the financial package amounting $700 million for two major water projects including on Wednesday, ARY News reported.

According to statement issued, the approval was given in the meeting held in Washington with board of directors of World Bank.

Today, Finance Minister Ishaq Dar confirmed that World Bank approved the Dasu project with 100 per cent vote and the United States also cast vote in four of this project.

Speaking in National Assembly, the Minister said 4500 megawatt run of the river Dasu project will cost Rs. 700 billion. The first phase of the project will cost Rs. 400 billion.

The government of Pakistan has taken the loan from World Bank on 2 per cent interest rate and will pay back the amount in 25 years.

 

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