ADB signs $300mln loan deal with govt for Balakot project thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
Financing agreement for Balakot Hydropower Project signed
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ISLAMABAD, Pakistan: The Federal Minister for Economic Affairs Omar Ayub Khan and the Khyber Pakhtunkhwa Chief Minister Mahmood Khan on Friday witnessed the signing of the financing agreement of the Balakot Hydropower Development Project amounting to US$ 300 million.
The loan agreement was signed by the Secretary at the Economic Affairs Division (EAD) Noor Ahmed and the Acting Country Director of the Asian Development Bank (ADB) Cleo Kawawaki in Islamabad.
The total cost of this project is US$ 755 million out of which the ADB has committed to provide US$ 300 million while the Asian Infrastructure Investment Bank (AIIB) will provide US$ 280 million.