WB approves additional financing of $700m for Dasu Project

World Bank has approved a $700 million additional credit line for Pakistan to finance the first phase of the Dasu Hydropower Project that would provide affordable electricity supply to users.

According to the statement released by the World Bank, the additional financing will support the construction of a transmission line to transmit power from the Dasu Hydropower plant to Islamabad.

“The financing will also finance the transmission line to complete the first phase of the Dasu hydropower project that will install 2,160 MW capacity along the main Indus River,” the statement said.

In this regard, World Bank Pakistan country director Illango Patchamuthu said, “Pakistan’s energy sector is aiming to move away from high-cost and inefficient fossil fuels towards low-cost, renewable energy to power the national grid.”

The concerned authorities have claimed that plans for Stage II expansion would double the installed capacity to 4,320MW, making Dasu hydropower the largest hydropower plant in the country.

Pakistan’s Water and Power Development Authority (WAPDA) is implementing the project, which is estimated to cost $4.2bn. The hydro facility is planned to enter service in 2023. The overall cost of Dasu Hydropower Plant (stage-1) has reached to Rs 510.980 billion.