PNN – The World Bank has approved the granting of a one-billion-dollar loan to the government of Islamabad with the aim of helping to advance energy projects in Pakistan.
According to the report of Pakistan News Network from Pakistan’s news channels, the new World Bank loan will be aimed at improving the country’s electricity production, and it is said that the level of hydropower production in Pakistan will increase.
A one-billion-dollar loan from the World Bank has been allocated for the “Dasso” hydropower project, which is designed and managed by China, a project that was built in the northwest of Pakistan and whose activity was stopped several times due to terrorist attacks on Chinese nationals.
The World Bank has claimed that with this loan, it will facilitate the production of cheap energy in Pakistan, and with the use of the “Dasso” hydropower project, the production of electricity will increase to more than 5,400 megawatts.
This year, the Central Bank of Pakistan announced in a statement that the country has received a new loan of 1.1 billion dollars from the International Monetary Fund.
In recent years, Pakistan’s economy has been severely affected by the increase in foreign debts, rampant inflation, and the country’s forced strategy to comply with the strict measures of the International Monetary Fund.
At the same time, the government of Pakistan is trying to arrange a large and long-term loan plan from the International Monetary Fund in order to improve the fragile economic situation of this country.