The OPEC Fund for International Development has provided a $72 million loan to support a major hydropower project in Pakistan.
The Mohmand Multipurpose Dam Project will contribute to Pakistan’s energy security, increase sustainable water supply for agriculture and human consumption and improve resilience to floods. The dam also will contribute to the regional socioeconomic development of the Khyber Pakhtunkhwa province, Pakistan’s third-largest region, where nearly 80 percent of the population lives in rural areas.
The total cost is expected to be $2.2 billion and will be co-financed with the Islamic Development Bank, the Kuwait Fund for Arab Economic Development and the Saudi Fund for Development. The government of Pakistan is contributing nearly $1 billion through its own resources and proceeds from a Green Eurobond issued last year.
Upon completion, the plant will add 800 megawatts of capacity to Pakistan’s installed hydropower capacity and generate nea
