World Bank approves 600 million dollars for Dasu, 100 million dollars for Sindh Water Irrigation

[Hyde]

World Bank approves Dasu Hydroelectric power project for Pakistan

WASHINGTON, June 10 (APP): Signifying growing international confidence in Pakistan’s economic revival and energy plans, the World Bank Tuesday approved the Dasu Hydroelectric Power project at a pre-scheduled meeting of its Executive Directors.

Source: Associated Press Of Pakistan ( Pakistan's Premier NEWS Agency ) - World Bank approves Dasu Hydroelectric power project for Pakistan

ARY News is reporting 700 million dollars as we were hoping for.

 

[Bilal.]

Close to 600 million for Dasu the remaining for irrigation projects in sindh.

 

[Hyde]

Close to 600 million for Dasu the remaining for irrigation projects in sindh.

It is indeed.. on World's bank website it talks about committed amount of $588.40 million dollars

 

[Shabaz Sharif]

It is indeed.. on World's bank website it talks about committed amount of $588.40 million dollars

Any more details on Sindh project?

 

[WishLivePak]

I wish someone donates $700m towards education... Assuming it costs $100,000 to build a REALLY good school, with 700m, we can have 7,000 schools.

Of course we can make far more. Buying books, computers, softwares, furniture and so forth in bulk can vastly reduce price. Plus some regions will require cheaper, smaller schools. Gov't owns a lot of land, so extra money saved there. So we can get some 10,000-15,000 schools being made within a year or two.

Yes we need bijli, but we need loans for education.. We can have school built in a year vs this dam in 10 years. How many kids will be out of school for 10 years?

 

[Shabaz Sharif]

I wish someone donates $700m towards education... Assuming it costs $100,000 to build a REALLY good school, with 700m, we can have 7,000 schools.

Of course we can make far more. Buying books, computers, softwares, furniture and so forth in bulk can vastly reduce price. Plus some regions will require cheaper, smaller schools. Gov't owns a lot of land, so extra money saved there. So we can get some 10,000-15,000 schools being made within a year or two.

Yes we need bijli, but we need loans for education.. We can have school built in a year vs this dam in 10 years. How many kids will be out of school for 10 years?

Let me guess, you are PTI fan? Only potians can be this stupid.

 

[Leader]

World Bank approves Dasu Hydroelectric power project for Pakistan

WASHINGTON, June 10 (APP): Signifying growing international confidence in Pakistan’s economic revival and energy plans, the World Bank Tuesday approved the Dasu Hydroelectric Power project at a pre-scheduled meeting of its Executive Directors.

Source: Associated Press Of Pakistan ( Pakistan's Premier NEWS Agency ) - World Bank approves Dasu Hydroelectric power project for Pakistan

ARY News is reporting 700 million dollars as we were hoping for.

buudget mein ham nay ktna rakha?

 

[WishLivePak]

Let me guess, you are PTI fan? Only potians can be this stupid.

Let me guess, you're one uneducated person?

What the hell is wrong with this forum. I say something good about PMLn, I get called out. Something good about education, I get called out.

You people have 50% or more illiterate people running around and if someone asks for education improvment, they become stupid?
Pot meet kettle. An uneducated calling another stupid.

 

[Sugarcane]

I hope the project will be completed on time

 

[Hyde]

buudget mein ham nay ktna rakha?

Budget speed main bas ye bola thaa

We have expended unusual efforts to make the dream of Dasu Hydropower Project a reality. TheWorldBank will soon be approving $700million for financing this critical project that will add more than 4500 MW of power after completion. We are designing innovative ways to mobilize the requisite finances for constructing this project within the shortest possible time.

Basically Government ka zayada focus un projects ko fund karna hai jo foreign sources se nahi ho paa rahay such as Bhasha dam or small projects which can be completed without the need of foreign loans. Dasu is somewhat easy since it has not faced any opposition from within and the neighbouring countries and World Bank and few other countries has shown keen interest investing in this project. So it is relatively easy to fund from foreign sources hence no amount seems to have been allocated in the budget for Dasu dam.

 

[Shabaz Sharif]

Let me guess, you're one uneducated person?

What the hell is wrong with this forum. I say something good about PMLn, I get called out. Something good about education, I get called out.

You people have 50% or more illiterate people running around and if someone asks for education improvment, they become stupid?
Pot meet kettle. An uneducated calling another stupid.

Read you post again

"Yes we need bijli, but we need loans for education.. We can have school built in a year vs this dam in 10 years. How many kids will be out of school for 10 years?"

We need bijli but loan for education is more important? One need energy, bijli to build and operate schools. Forget about building new school, Pakistan can't even run already build schools properly because of bijli shortage.

 

[Hyde]

Read you post again

"Yes we need bijli, but we need loans for education.. We can have school built in a year vs this dam in 10 years. How many kids will be out of school for 10 years?"

We need bijli but loan for education is more important? One need energy, bijli to build and operate schools. Forget about building new school, Pakistan can't even run already build schools properly because of bijli shortage.

The loan which you take has to be returned one day. How are you going to repay it?

The dams you are building will generate electricity and irrigate land. You will charge money for consumers and pay back the loans and will ultimately be free of loans after you have fulfilled commitments. 1 dam that you make can probably be free of cost after 10 or so years of its operation and whatever money you save afterwards can be used for building schools, more dams or whatever you want. It is not the case for schools

PS: I am advocate of having higher education and health budget but it does not decrease the importance of dams, the economic cycle for our country.

 

[Hyde]

World Bank unanimously approves Dasu project

WASHINGTON: The World Bank unanimously approved on Tuesday the Dasu hydro electric power project and in a pleasant surprise for Pakistan the United States also voted in favour.

The US administration had earlier warned Pakistan that due to congressional constraint, they would prefer to abstain, although they support the plan.

On Monday, Finance Minister Ishaq Dar telephoned US Treasury Secretary Jack Lew and requested him to vote for Dasu, arguing that the support would not only help Pakistan complete this project but would also strengthen the government’s efforts to deal with the country’s agonising energy crisis.

The Pakistan Embassy in Washington also played a key role in winning over the US endorsement, lobbying Congress, the White House and the State Department.

Earlier, all 25 members of the World Bank’s executive board met in Washington to consider Pakistan’s request for financial support for the project. Sri Mulyani Indrawati, the managing director and the chief operating officer, chaired the meeting. Sri Indrawati is former finance minister of Indonesia.

Dasu hydro electric power or Dasu Dam is a critical project to meet the energy needs of Pakistan with a potential to generate 4200 MWs of cheap electricity. Upon completion, it will substantially increase the generation capacity of the country, reduce subsidies, change the fuel mix and bring down the cost of electricity generation.

“Today’s decision by the World Bank to support the project is a reflection of the international financial institutions’ confidence on Pakistan’s economic revival and its clear vision to overcome the energy requirements of the country,” said Pakistan’s Ambassador Jalil Abbas Jilani. “It will also open the sector of hydel-power generation to the private participation.
Progress on this critical project for Pakistan will help forge the Pakistan-US partnership on a lasting basis and further strengthen the bilateral relations.”

The Dasu project is already appraised and the donors had earlier assured Pakistan that if it sends out the approval letter, the International Development Association, a World Bank funding agency, would give credit of $700 million for resettlement, and other preparatory works needed.

The grace period of this credit would be 10 years. Debt servicing would start 5 years after generation from Dasu. On Dasu, first unit would be produced in 5 years.
Published in Dawn, June 11th, 2014

Source: World Bank unanimously approves Dasu project - Newspaper - DAWN.COM

 

[Hyde]

WB approves two $700m water, power projects for Pakistan

ISLAMABAD - The World Bank has approved two projects for Pakistan – 4,500 MW Dasu Hydropower Project (US $ 600 million) and Sindh Water Irrigation Project (US $ 100 million).

According to a press statement issued by the Finance Ministry, on May 1st, 2014 the World Bank had approved US$1 billion for budgetary support to Pakistan.

The Finance Minister said that the Dasu Hydropower Project is located on main Indus River in district Kohistan, KPK and the other project will help Sindh government to improve its irrigation system. He added that for Diamer Bhasha Dam, the Finance Ministry was working with the USAID to organise an international investors’ conference in September this year in Washington DC. He said, “We will fulfill the promises made with the nation to make Pakistan self-sufficient in energy and water resources”.

The World Bank loans are purely concessionary and cheap in nature with repayment schedule spanning over a period of 25 years including five years grace period, with no interest and a nominal administrative charges of 2 percent per annum.

On receipt of US $ 700 million, an equivalent amount of Pakistan rupees will be reduced from the domestic debt which is much more expensive at 12.5 percent per annum. Government of Pakistan will be saving net 10.5 percent in payment of interest. Resultantly, there will be no net increase in overall public debt.

The World Bank’s board of directors’ support and commitment with Pakistan reflects their confidence in the leadership and vision of Prime Minister Nawaz Sharif and his team led by Finance Minister Senator Ishaq Dar.

Earlier, the Finance Minister talked to Mr Jacob Lew, US Secretary of Treasury, to seek US support to Dasu project which is vital for Pakistan’s energy needs, as US had abstained from voting in case of ADBs assistance for Jamshoro Coal Power Project. The US had conveyed that it will abstain from voting on Dasu Project in the World Bank Board meeting. Finance Minister urged Secretary Lew to vote positively in the Board meeting on Dasu Hydropower Project, to which he agreed.

Our special Special Correspondent from Washington adds: The World Bank approved the Dasu Hydroelectric Power project at a pre-scheduled meeting of its Executive Directors.

The meeting, chaired by Sri Mulyani Indrawati, the Managing Director and the Chief Operating Officer of the World Bank, endorsed the Dasu Project with an overwhelming support with all the members including the United States voting in favour of the project, a press release of the Pakistan embassy said.

Dasu Hydroelectric Power or Dasu Dam is a critical project to meet Pakistan’s energy needs with a potential to generate 4200 MWs of cheap electricity. Upon completion, it will substantially increase the generation capacity of the country, reduce subsidies, change the fuel mix and bring down the cost of electricity generation.

“Today’s decision by the World Bank to support the project is a reflection of the international financial institutions’ confidence on Pakistan’s economic revival and its clear vision to overcome the energy requirements of the country,” the Pakistani embassy said.

“It will also open the sector of hydel power generation to the private participation.”

The US support for the project is in line with the commitment made by the leadership of the two countries to enhance cooperation in the energy sector as envisioned by President Obama and Prime Minister Muhammad Nawaz Sharif in the Joint Statement of October 2013, the embassy statement said.

Source: WB approves two $700m water, power projects for Pakistan

 

[Dubious]

OMG is anyone adding up all this money so we know how much was available, how much got used and how much went missing?