Pakistan and Islamic Development Bank (IDB) have signed three frameworkagreements amounting to 180 million dollars for Mohmand Dam HydropowerProject.
The agreements were signed in Islamabad on Monday.
Minister for Economic Affairs Omar Ayub Khan and President of IslamicDevelopment Bank Muhammad Al Jasser witnessed the signing ceremony.
Speaking on the occasion, the President of Islamic Development Bank saidthe bank takes pride in supporting Pakistan in a strategic project ofnational importance. He said we are looking forward to ensuring the smoothimplementation of the project and hope to witness its operation in due time.
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Omar Ayub Khan recognized the bank’s long standing and trusted partnershipwith Pakistan. He said Islamic Development Bank’s financing for MohmandDam will significantly enhance Pakistan’s electricity generation and waterstorage capacity and create new direct and indirect employmentopportunities.
