A high-level delegation of Executive Directors from the Asian Development Bank (ADB) visited WAPDA House yesterday, engaging in detailed discussions regarding the financing of various WAPDA projects. The meeting saw the participation of WAPDA Chairman Engineer Lieutenant General Sajjad Ghani (retd), Member Finance, General Manager (Projects) South, and project directors of numerous ongoing projects. Additional key attendees included the General Manager (Coordination and Monitoring), General Manager Finance (Water/Power), Advisor (Hydro Resource Management), and Advisor (Hydro Planning). During the briefing, the delegation learned about Pakistan's substantial hydropower potential, with a generation capacity of 70,000 megawatts. Currently, WAPDA operates 22 hydropower plants with a combined output of 9,459 MW. The projects under construction are expected to add approximately 10,000 MW of eco-friendly, cost-effective electricity by 2028-29, nearly doubling WAPDA's hydropower generation capacity. Presently, hydropower constitutes 29 percent of the national grid's low-cost electricity.

WAPDA aims to elevate this to 40 percent by 2030 and 50 percent by 2050. Key projects discussed included the Nolong Dam, the second phase of the Karam Tangi Dam, and the Perton Hydropower Project, all under construction with ADB's support. Additionally, financial assistance was sought for upcoming projects such as the Mohmand Dam, Diamer Bhasha Dam, and Kial Khwar Project. Member Finance highlighted WAPDA's robust financial strategy, emphasizing its stability and appeal to international financial institutions, including the World Bank. In his address, the Chairman lauded ADB as a valuable partner, noting the significant benefits derived from the bank's support in completing critical projects. He underscored the strategic importance of WAPDA's initiatives in social and economic development, climate change mitigation, and the generation of environmentally friendly hydropower. The Chairman urged ADB to enhance its involvement from medium-scale to large-scale strategic projects. The delegation acknowledged WAPDA's stability and expressed strong interest in financing forthcoming projects, reinforcing the long-standing partnership between ADB and WAPDA.

Credit: Independent News Pakistan