Islamabad: Kuwait will provide a loan of around 25 million dollars for the Mohmand Dam Hydropower Project. An agreement was signed between the Government of Pakistan and the Kuwait Fund for Arab Economic Development in Islamabad today.

According to Radio Pakistan, Secretary Economic Affairs Muhammad Humair Karim expressed appreciation for the Kuwait Fund’s financial assistance in energy, water, and social sector projects, noting their significant contribution to Pakistan’s socio-economic development. It was recalled that during the 5th Session of the Pakistan-Kuwait Joint Ministerial Commission held in May last year, Pakistan had requested the Kuwait Fund for the early signing of a financing agreement for a total loan of around one hundred million dollars for the Mohmand Dam Hydropower Project, to be disbursed in four equal tranches.

Following the signing of the first loan agreement last year, today’s signing marks the second phase of this commitment. The Deputy Head of Mission, Embassy of Kuwait, reaffirmed his Government’s commitment to furthering bilateral economic cooperation.