The Asian Development Bank (ADB) announced Thursday that it has approved a 330-million-dollar loan to Pakistan to modernize its electric grid using hydropower.
In a statement, the bank said the loan “will help reduce dependence on imported fuels, improve energy security, and support Pakistan’s transition toward a more affordable and sustainable energy mix.”
“These investments will address long-standing bottlenecks in Pakistan’s north–south energy corridor by enabling the transfer of up to 3,200 megawatts of clean energy from northern hydropower plants,” the ADB added.
In November 2023, the ADB had already provided Pakistan with a 250-million-dollar loan to develop its high-voltage electricity transmission network in two provinces.
In August, it also allocated 410 million dollars for copper and gold extraction at a massive deposit in Pakistan’s Balochistan region.
