By IANS,
Islamabad : The World Bank will provide Pakistan $294.7 million for an electricity distribution improvement project and a water sector capacity building and advisory services project.
Towards this, the Pakistani government and the World Bank Monday signed two agreements for an electricity distribution and transmission improvement project worth $256.7 million and for a water sector capacity building and advisory services project worth $38 million.
Acting secretary of the economic affairs division Junaid Iqbal Chaudhry on behalf of the Pakistan government and World Bank country director Yousapha B. Crookes signed the agreements for the two projects, Daily Times reported Tuesday.
The Electricity Distribution and Transmission Improvement Project (EDTIP) will assist the distribution and transmission companies in strengthening the capacity of the distribution and transmission network to meet the increase in electricity demand more efficiently and with better reliability and quality.
The project will also strengthen the institutional capacity of power distribution companies and support priority areas of the power sector reforms process.
The Water Sector Capacity Building and Advisory Services Project (WSCAS) is aimed at improving the management and investment planning of water resources in the Indus River System.
Pakistan will repay the money in 35 years, which includes a grace period of 10 years.