Pakistan and Islamic Development Bank (IDB) have signed three framework agreements amounting to 180 million dollars for Mohmand Dam Hydropower Project.
The agreements were signed in Islamabad on Monday.
Minister for Economic Affairs Omar Ayub Khan and President of Islamic Development Bank Muhammad Al Jasser witnessed the signing ceremony.
Speaking on the occasion, the President of Islamic Development Bank said the bank takes pride in supporting Pakistan in a strategic project of national importance. He said we are looking forward to ensuring the smooth implementation of the project and hope to witness its operation in due time.
Omar Ayub Khan recognized the bank’s long standing and trusted partnership with Pakistan. He said Islamic Development Bank’s financing for Mohmand Dam will significantly enhance Pakistan’s electricity generation and water storage capacity and create new direct and indirect employment opportunities.