Kuwait will provide a loan of around 25 million dollars for the Mohmand Dam Hydropower Project.
An agreement was signed between the Government of Pakistan and the Kuwait Fund for Arab Economic Development in Islamabad today.
Speaking on the occasion, Secretary Economic Affairs Muhammad Humair Karim appreciated the Kuwait Fund’s financial assistance in energy, water, and social sector projects, which are contributing significantly to Pakistan’s socio-economic development.
It was recalled that during the 5th Session of the Pakistan-Kuwait Joint Ministerial Commission held in May last year, Pakistan had requested the Kuwait Fund for early signing of financing agreement for a total loan of around one hundred million dollars for the Mohmand Dam Hydropower Project, to be released in four equal tranches. Following the signing of the first loan agreement last year, today’s signing marks the second phase of this commitment.
The Deputy Head of Mission, Embassy of Kuwait, reaffirmed his Government’s commitment to furthering bilateral economic cooperation.
