AIIB okays dollar 300m for Pakistan hydro power project

AIIB okays dollar 300m for Pakistan hydro power project

Latest News Pakistan

BEIJING: The Asian Infrastructure Investment Bank (AIIB) approved loans totalling $320 million to energy projects aiming to ease severe power shortages in Myanmar and Pakistan, the bank said on Thursday (latest news Pakistan).

A $300-million loan will fund expansion of a hydropower project in Pakistan, co-financed with the World Bank, and a loan of $20 million went to a power plant in Myanmar co-financed with other lenders, the bank said in a statement.

The bank has previously co-financed projects such as a slum renovation in Indonesia and highway construction in Pakistan and Tajikistan.

 

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