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Dasu power project: Formal signing ceremony with WB on Aug 18

August 5, 2014

Pakistan and World Bank would ink an agreement on August 18 for starting of civil works on the 4,320MW Dasu Hydropower Project (DHP).

TO this effect a loan agreement signing ceremony would be held at the PM secretariat or the Ministry of Water and Power. The head of WB delegation and officials of the respective ministry would sign the agreement. The formal inking ceremony would be likely witnessed by Prime Minister Nawaz Sharif.

According to Finance Ministry officials, action plan is being given final shape for the start of civil work on the project and in this regard a 10 member WB review mission has arrived in Pakistan.

The 10-member mission will hold a series of meetings with senior officials of the Water and Power Development Authority (Wapda) and the Ministry of Water and Power.

Officials term arrival of the mission a significant development to speed up homework after approval by the bank's executive board of directors of about $4.3 billion soft loan under a special package of the International Development Association (IDA).

According to the policy, the WB will pay about $700 million of the total loan to Wapda in order to execute various tasks related to the project.

Wapda tentatively planned to launch civil work on the DHP, a run-of-the-river project located 7km upstream of Dasu village in District Kohistan on Indus River, 74km downstream of Diamer Bhasha Dam and 350km from Islamabad, in March next year.

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Source: Daily Messenger (Pakistan)

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