Islamabad (HRNW)- The World Bank has approved a $375.9 million loan for Pakistan to support the modernization of the country’s power transmission system, a project aimed at reducing electricity outages and improving the reliability of the national grid.
According to details, the funding will support the first phase of the World Bank’s 10-year energy program for Pakistan. The financial assistance will be used to upgrade the national power transmission network and launch a project to modernize the country’s electricity grid.
The World Bank said the project is expected to help reduce power outages while adding 640 megawatts of wind energy to the national grid, contributing to the promotion of renewable energy. The modernized transmission system is also expected to lower electricity costs and improve power supply for domestic, industrial and commercial consumers.
According to the World Bank, the program will make Pakistan’s electricity system more resilient to climate change and is expected to reduce carbon emissions by approximately 832,000 tons annually.
The project will also support the government’s ongoing power sector reforms by improving electricity delivery, enhancing grid stability and increasing the share of renewable energy in Pakistan’s energy mix.
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