ADB signs $325M loan deal for clean power supply in Pakistan.
Pakistan and Asian Development Bank (ADB) have signed a loan agreement of $325M for improving power distribution. The agreement was signed to provide electricity in areas of Khyber-Pakhtunkhawa and Punjab which are deprived with electricity.
After getting agreement signed now Pakistan will be able to draw money from the bank for clean Energy Investment Programme.
The agreement has been signed by division secretary of Economic Affairs Nargis Sethi and Country Director-ADB Werner E. Liepach
The project is going to start in 2017 and expected to be end in year 2021. The project will help in providing more reliable and more sustainable electricity.
The ministry of finance reported that the project is more likely to be based on gender as 7% of electricity from micro-hydroelectric power plants is consumed by women while using households.
According to project, 30% of solar electricity will be installed in girl’s school campuses in each of the province.
And different training programs will be allocated to teach women to use these electricity instruments.
The main benefit will be gain by the off-grid communities who are the inhabitants of far away rural areas and are deprived from electricity. Due to low income of people at rural areas in KPK and Punjab are deprived of electricity. 70% population from KPK and 65% from Punjab have income below than $1.25. According to report only 57% of the residents from rural areas are having electricity.
The project will help in installing renewable energy power plants which includes 1000 micro-hydroelectric power plants in areas of KPK.
The program will greatly help in meeting the needs of electricity and it will help in easy access to more sustainable and reliable electricity services more specifically in rural areas of KPK and Punjab.