Pakistan asks AIIB to finance Diamer Basha Dam

Pakistan has asked the Business Development Mission of the Asian Infrastructure Investment Bank (AIIB) to finance the power generation part of the Diamer Basha Dam Project.

During a meeting with an AIIB delegation here on Tuesday, Wapda’s chairman said that AIIB could help WAPDA reach its goal and join the Diamer Basha Dam Project’s power generation part.

Business Development Mission of Asian Infrastructure Investment Bank (AIIB), led by its Director General (Investments) Ms. Supee Teravaninthorn, met with Chairman WAPDA Lt Gen Sajjad Ghani (Retd) at WAPDA House today. During the meeting, questions about how to pay for WAPDA projects were discussed.

During his speech, the Chairman thanked AIIB for the money it is giving to the 1530 MW-Tarbela 5th Extension Hydropower Project, which is still being built.

He talked more about the importance of hydel electricity and said that our focus is on making green energy. We want to replace the 9000 MW of electricity that is made with expensive fossil fuels with clean, low-cost hydel energy.

The Diamer Basha Dam is supposed to generate 4,500 MW. Because of this, it will be enough to cut the amount of electricity that Pakistan gets from fossil fuels by a lot.

AIIB can help WAPDA with this goal and take part in the Diamer Basha Dam Project’s power generation part, he added.

The Chairman also said that floods are common in Pakistan. Basically, the country needs to build two or three mega water reservoirs to reduce flooding and stop more damage. AIIB can also help Pakistan build dams.

The AIIB Development Mission was very interested in financing WAPDA projects. DG (Investments) said that AIIB and WAPDA will continue to work closely together and look into the possibility of providing financial support for WAPDA projects.

Earlier, a Member (Finance) of WAPDA told the Mission about investment opportunities in WAPDA projects that are under construction or will be built in the near future.

The AFD Energy Mission also met with the Chairman of WAPDA to finalize the loan agreement for the Keyal Khwar Hydropower Project. Things about the Warsak Project were also talked about at the meeting.