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Pakistan, Kuwait Fund ink loan agreement for Golen Gol Hydropower Project

The government of Pakistan and the Kuwait Fund Wednesday signed a supplementary loan agreement of K.D. 4.5 million (equivalent to $ 15.00 million) for Golen Gol Hydropower Project.

Kuwait has already been co-financing this project with an amount of K.D. 11.00 million (equivalent to $ 37.00 million). Mr. Ghanem Sulaiman Al-Ghenaiman, Deputy Director General, Kuwait Fund for Arab Economic Development (KFAED) signed the document on behalf of the Kuwait Fund while Syed Ghazanfar Abbas Jilani, Secretary, Economic Affairs Division signed it on behalf of the government of Pakistan.

The ceremony held at Economic Affairs Division was attended by Mr. Fawaz Al-Adasani, Assistant Regional Manager for East, South Asia and Pacific Countries of Kuwait Fund, Mr. Fahad Al Mazeel, Charge d Affairs, Embassy of the State of Kuwait and senior officials from Economic Affairs Division, Ministry of Water Resources and WAPDA.

Secretary, Economic Affairs Division on the occasion said that completion of the Golen Gol Hydroelectric Power Project will offer new opportunities for the people living in Chitral and Khyber Pakhtunkhwa (KP) province. “It will meet electricity demand in the area and also boost tourism and economic activities.”

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