PID

PR No.87 GoP, Kuwait Fund Ink Supplementary Loan Agreement Islamabad: April 11, 2018

The Government of Pakistan and the Kuwait Fund here on Wednesday signed Supplementary Loan Agreement of K.D. 4.5 million (equivalent to US$ 15.00 Million) for Golen Gol Hydropower Project on April, 11, 2018. The State of Kuwait has already been co-financing this Project with an amount of K.D. 11.00 million (equivalent to US$ 37.00 Million). His Excellency Mr. Ghanem Sulaiman Al-Ghenaiman, Deputy Director General, Kuwait Fund for Arab Economic Development (KFAED) signed the document on behalf of the Kuwait Fund while Syed Ghazanfar Abbas Jilani, Secretary, Economic Affairs Division signed it on behalf of the Government of Pakistan. The ceremony held at Economic Affairs Division was attended by Mr. Fawaz Al-Adasani, Assistant Regional Manager for East, South Asia and Pacific Countries of Kuwait Fund, Mr. Fahad Al Mazeel, Charge d Affairs, Embassy of the State of Kuwait and senior officials from Economic Affairs Division, Ministry of Water Resources and WAPDA. Secretary, Economic Affairs Division on the occasion said that completion of the Golen Gol Hydroelectric Power Project will offer new opportunities for the people living in Chitral and Khyber Pakhtunkhwa (KP) province. It will meet electricity demand in the area and also boost tourism and economic activities.

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