ISLAMABAD: The Asian Development Bank (ADB) has approved $330 million in financing for Pakistan, marking a significant step toward strengthening the country’s power transmission infrastructure and supporting its long-term energy security.
According to a statement issued by the ADB, the funds will be allocated for the Second Power Transmission Strengthening Project.
The statement added that the project is a significant step toward expanding clean energy transmission, under which a new 290-kilometre, 500 kV transmission line will be constructed.
This upgrade is particularly important as the country increasingly turns to clean energy solutions to meet rising demand, reduce its dependence on imported fuels, and curb environmental pollution.
According to the statement, under the project, the grid infrastructure for Islamabad and Faisalabad will be upgraded, the project will help in bringing 3200 MW of hydroelectric power to the national grid, the transmission of low-cost hydropower will reduce the dependence on imported fuel.
According to the statement, the project is part of Pakistan's energy sector reform program, which will improve energy security and affordable power supply.
This includes $285 million in general debt and $45 million in concessional debt, the statement said.
This latest financial support from ADB underscores the critical importance of sustainable power sector reforms and highlights the bank’s ongoing partnership with Pakistan in driving energy sector transformation and long-term economic development.
