ISLAMABAD: The Islamic Development Bank (IDB) has given $1.17 billion Central Asia South Asia Electricity Transmission and Trade Project (CASA-1000) a push by agreeing on giving the project financial assistance.
The World Bank had already agreed to give $526 million loan, about 50 per cent of the total cost, for the project which would help Pakistan overcome prevailing power shortage. The IDB would pay the remaining amount.
Pakistan and Afghanistan had also signed electricity transit fees at 1.25 cents per unit in Washington, marking a major step towards closer ties between the two countries.
The Islamic Development Bank has already gave concessional loans and technical assistance to Tajikistan, aid that amounted to over $210 million. Tajikistan is the main part of CASA-1000 project, a lot of other projects worth $145 million are now being implemented in the areas of energy, transport, water, health and education.
