France Stepped Ahead to Provide Loan For Chitral, Dargai Hydropower Projects’

Islamabad: According to the media source, the French Government has recently given Pakistan a soft loan worth 9.36 billion PKR to restore hydroelectric plants in Chitral and Dargai. The French Embassy stated that financing would help to modernize two hydropower plants and increase their power generation ability significantly.

 


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Economic Affairs Division (EAD) Secretary Noor Ahmed, Country Director Jacky Amprou, of the French Development Agency (AFD) and Ambassador Marc Baréty of France to Pakistan signed the Loan Credit Facility Agreement and the Grant Agreement.

Funds are made available to meet the power needs of the Chitral and Malakand areas by enabling power generation, production and transmission. In addition, the initiative should provide huge leverage for the region's industrial, financial and environmental growth.

France, according to the embassy, provides a large amount of financial assistance, through AFD, to facilitate the growth of Pakistan's energy and urban sectors.


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