ISLAMABAD: Kuwait will give Pakistan an additional loan of $32 million for 969 MW Neelum Jhelum Hydro Power Project.
Economic Affairs Division (EAD) Secretary Saleem Sethi and Kuwait Fund Deputy DG Hamad Al-Omar signed the agreement for loan on behalf of their respective governments in the presence of Finance Minister Ishaq Dar and Ambassador of Kuwait Nawaf Abdul Aziz Alenezi.
Ishaq Dar on behalf of the Prime Minister and people of Pakistan, thanked the leadership and people of Kuwait for their continued support to Pakistan and said that the agreement adds another chapter to Pak-Kuwait economic cooperation.
Deputy DG Kuwait Fund said it was a pleasure for him to sign this agreement on behalf of government of Kuwait. Kuwait fund has undertaken a number of development projects in Pakistan and would continue its support, he said.
The project has a total cost of Rs275 billion with a planned foreign funding of $1585 million. In this regard $1110 million have been committed by various donors including IDB, Saudi Fund, OPEC Fund, Kuwait Fund and China Exim Bank.
