The World Bank will provide $700 million additional financing for Dasu Hydropower Project’s transmission line, a private media outlet reported on Monday.
World Bank Country Director Patchamuthu Illangovan conveyed this decision in a letter sent to the water resources secretary, sources said.
The World Bank plans to negotiate the matter in the last week of January 2020. The project’s PC-1 has already been approved.
The World Bank has appreciated all stakeholders for extending support in getting approval for the revised land rates and compensation for the Dasu land acquisition, which was approved by the federal cabinet on October 29, 2019.
Dasu Hydropower Project is a run of the river project with total installed capacity of 4,320MW, comprising two phases of 2,160MW each. The project is being constructed on the Indus River, 74 kilometres downstream of Bhasha Dam in district Kohistan, Khyber Pakhtunkhwa.