The Government of France will provide soft loans of pound 120 million for Keyal Khuwar 128 MW Hydropower Project, located in the Khyber Pakhtunkhwa province.
Secretary Economic Affairs Dr Kazim Niaz and Country Director, French Agency for Development, Philippe Steinmetz signed an agreement in that regard here on Monday, an Economic Affairs Division news release.
The French loan assistance would support the 128 MW facility, located near the city of Pattan in KP. It would also support the Water and Power Development Authority (WAPDA) in its mandate of hydroelectricity sector development in Pakistan.
The funding would also help enhance the competitiveness of renewable power generation thus promoting affordability and scaling up the energy supply.
According to the news release, the Keyal Khuwar project would contribute to the government's strategy to develop green energy, reduce greenhouse gas emissions and climate-friendly projects, in line with the French pledge and commitments announced at the International Conference on Climate Resilient Pakistan, which took place in Geneva on January 9, 2023.
The French Government through the French Agency for Development has been working in Pakistan, providing technical and financial support in the energy and urban development sector aiming at green investment in teh country.
The Secretary Economic Affairs while signing the agreement thanked the French Government and AFD for extending the financial assistance to Pakistan.