A 120 million euro soft loan will be provided by France for the 128-megawatt Keyal Khuwar hydropower project in Khyber Pakhtunkhwa.
The French Agency for Development and the Ministry of Economic Affairs in Islamabad inked an agreement to this effect.
The contract was signed by Mr. Philippe Steinmetz, Country Director of AFD, and Dr. Kazim Niaz, Secretary of Economic Affairs.
The investment will support affordability, expand the energy supply, and improve the competitiveness of renewable energy production.
According to the French vow and agreements made at the International Conference on Climate Resilient Pakistan in Geneva this month, the project will support Pakistan’s aim to promote green energy, lower greenhouse gas emissions, and climate-friendly projects.