France provides soft loan to Pakistan for hydropower projects
ISLAMABAD – France is to provide fifty million euro soft loan and 0.2 million euro grant to Pakistan for the rehabilitation of Dargai and Chitral Hydropower projects.
Secretary, Economic Affairs Division Noor Ahmed, Ambassador of France to Pakistan, Marc Barety, and Country Director of the French Agency for Development (AFD), Jacky Amprou signed the Credit Facility Agreement in Islamabad on Friday.
The amount will be spent to 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. This will help enhance the generation, transmission, and distribution of electricity keeping in view the future requirements of the region.
The Secretary Economic Affairs Division thanked the French government and AFD for extending the financial assistance to Pakistan.