Asian Infrastructure Investment Bank (AIIB) has shown keen interest in financing Pakistan Water and Power Development Authority (Wapda) projects and will remain closely associated with the authority. “AIIB will look into possibilities of financial assistance for Wapda projects,” said AIIB Director General (Investments) Supee Teravaninthorn. She was leading a business development mission of AIIB that met Wapda Chairman Lt Gen (Retd) Sajjad Ghani on Tuesday.
“Wapda intends to replace 9,000 megawatts of electricity being generated from the costly fossil fuel with clean and low-cost hydel energy,” remarked Ghani during the meeting. Wapda chairman thanked AIIB for financial support it was providing for the under-construction 1,530MW Tarbela 5th Extension hydropower project. “Our emphasis is on producing green energy,” he said while dilating upon the significance of hydel electricity. Diamer-Bhasha Dam is expected to generate 4,500MW of electricity, which will drastically reduce power generation through fossil fuel.