World Bank, Pakistan ink agreement for $195m loan to improve energy distribution
The Electricity Distribution Efficiency Improvement Project (EDEIP) will help Hyderabad, Multan, and Peshawar distribution companies in improve operations to manage the electricity supply more efficiently and increase the reliability of the electrical grid.
Secretary economic affairs division Mian Asad Hayauddin and WB’s Operation Manager Anjum Ahmed signed the loan agreement. The representatives of Hyderabad Electric Supply Company (HESCO), Multan Electric Supply Company (MEPCO) and Peshawar Electric Supply Company (PESCO) also signed the agreement.
Earlier on Dec 22, Pakistan and Asian Development Bank (ADB) signed six Financing Agreements of US$ 1,543 Million for Energy Sector Reforms, Social Protection, Urban Infrastructure, Road Sector and Water Resources
Minister @OmarAyubKhan witnessed signing of 6 Financing Agreements worth US$ 1,543 Million btwn @eadgop and @ADB_HQ for Energy Sector Reforms, Social Protection (Ehsaas), Urban Infrastructure in KP, Road Sector (N55) and Kurram Tangi Dam in KP. (1/5) pic.twitter.com/Xel8hYfvOU— Economic Affairs Division, Government of Pakistan (@eadgop) December 22, 2021
Reporter Waqas Azeem