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France provides 183m euros for energy projects
Tuesday, July 27, 2010By Mehtab Haider
ISLAMABAD: France on Monday unveiled its plan to provide 183 million euros to undertake four projects of 210 megawatt for energy deficient Pakistan in accordance with its commitment made at the Friends of Democratic Pakistan (FODP) forum.
This was disclosed by France Ambassador to Pakistan Daniel Jouanneau on the occasion of signing ceremony of financing agreement worth 26.5 million euros for rehabilitation of the Jabban Hydropower plant in the Malakand division and to finance technical trainings for Wapda engineers.
France had committed to provide 300 million euros to Islamabad during the FODP conference held at Tokyo in April 2009 and after passing more than one and half year period now projects are getting shape for pouring money into the grounds. The FODP had committed to provide $5.2 billion to Pakistan on the basis of which the incumbent regime prepared its budget for 2009-10 depending upon foreign inflows of $2.2 billion.
But the last financial year ended unfulfilled the promises made by donors during the FODP conference, forcing the government to utilize $1.2 billion for budgetary support from the IMF lending money and the remaining gap was bridged through borrowing money from the State Bank of Pakistan.
However, the ambassador said that out of four energy sector projects, two of them would be located in Northern Areas while remaining two would be located in Azad Kashmir. These projects included Bashu hydropower project, Jagran II hydropower project, Jing hydropower project and Fender hydropower project.
Earlier, Sibtain Fazal Halim, Secretary Economic Affairs Division (EAD), Daniel Jouanneau, Ambassador of France and Yves Mayet, Deputy Country Director of the French Development Agency (AFD) signed a financing agreement of 26.5 million euros to contribute to the rehabilitation of the Jabban Hydro-power plant in the Malakand division and to finance technical trainings for Wapda engineers.
As a member of the Group of Friends of Democratic Pakistan, France pledged 300 million euros at the Tokyo ministerial conference last year.Four additional hydropower plants are under study: two by AFD and Wapda in Gilgit Baltistan, 2 in Azad Jammu & Kashmir through the Hydro Electric Board. On this basis, in the near future, AFDs expected funding in promoting hydro energy in Pakistan will reach about 240 million euros.