The government of France would provide Euro 50 million (Rs9 billion) soft loan and Euros 0.2 million (Rs36 million) grant to Pakistan for rehabilitation of Dargai and Chitral hydropower projects.
A Credit Facility Agreement and Grant Agreement in this regard were signed here by Secretary, Economic Affairs Division (EAD), Noor Ahmed; Ambassador of France to Pakistan, Marc Barety, and Country Director French Agency for Development (AFD), Jacky AMPROU. Malakand and Chitral are one of the remotest districts of Khyber Pakhtunkhwa, said a press statement issue by EAD here Friday, adding that the project would upgrade the obsolete and vulnerable machinery with the state-of-the art-technology, enhance the capacity of the existing Power Stations of Dargai and Chitral, thus enhancing generation, transmission, and distribution of electricity keeping in view the future requirements of the region.
The project will contribute towards the government of Pakistan’s strategy for utilizing the available renewable energy sources for power generation and enhancing their capacities, it added. France through the French Agency for Development is working in Pakistan providing technical and financial support in energy sector where Euros 315 million financial supports have been committed since2016.
Meanwhile, on the occasion, Secretary EAD thanked the French government and AFD for extending the financial assistance to Pakistan.
