World Bank approves $1 billion loan to Pakistan for hydropower project

(Patria) - The World Bank has approved $1 billion for the construction of Pakistan's largest hydropower
project, Dasu, which is being built in the northwest of the country with the help of China, AP reported.

The loan would be used to expand and improve access to electricity for local communities, the bank said in a statement.

"Pakistan's energy sector suffers from multiple challenges in achieving affordable, reliable, and sustainable energy," said Najy Benhassine, World Bank Country Director for Pakistan.

The Dasu hydropower project site is a game-changer in Pakistan's energy sector, he said.

The bank said the project will contribute to "greening the energy sector and reducing the price of electricity. The dam is being built in the northwestern province of Khyber Pakhtunkhwa, which borders Afghanistan, and when completed, it will have an installed capacity of 4,320 to 5,400 megawatts.

Thousands of Chinese workers are working on the Dasu dam and other projects related to the China-Pakistan Economic Corridor.