ISLAMABAD: International Finance Corporation (IFC)/World Bank (WB) Board has accorded approval for financing 108 megawatts (MW) Gulpur Hydropower Project located at Poonch River district Kotli Azad Jammu and Kashmir (AJK).
A high level delegation of IFC/WB meeting with Finance Minister Ishaq Dar discussed in depth various WB sponsored development projects.
Dar lauded WB Board’s decision regarding Gulpur Power project as government was making efforts to generate affordable energy to meet the future requirements.
He appreciated WB’s continued support for different projects specially 4,200 mw Dassu Hydropower Project that would greatly help alleviate the energy problem.
Dar said Pakistan had become eligible for IBRD economic package after achieving $15 billion forex reserves mark and there would be further expansion in WB’s project funding in Pakistan, Finance Ministry said in a statement.
The statement said another WB team had a meeting with senior officials of the Finance Ministry. During the meeting the performance of National Income Support Programme (NISP) was discussed. The delegation expressed satisfaction on improved NISP performance.
The delegation hoped with increased funding NISP would better reach out to poor segment of the population.
