World Bank to finance solar power projects in Pakistan

Source: Tribune Express

By Zafar Bhutta

PHOTO: AFP

ISLAMABAD: The World Bank has agreed to finance solar power projects from its Green Fund in an effort to improve the energy mix in Pakistan.

At present, because of the poor energy mix, the entire chain has been affected, which is pushing energy companies towards financial collapse.

Sources said Finance Minister Ishaq Dar had visited the US where he held a meeting with the World Bank on the possibility of funding solar power plants in Pakistan. The bank expressed its willingness, saying it was ready to finance the development of solar projects with a tariff of 3 to 3.5 cents per unit, which was quite attractive.

Sources said the government was now working on the possibility of availing itself of the financing from the World Bank’s Green Fund that would go to renewable energy projects to be set up in far-off areas of Pakistan.

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