Financing for DASU HydroPower Stage-I Project

- The World Bank approved the financing of Stage-I of Dasu Hydropower Project with an IDA Credit of US$ 588.4 Million and an IDA PCG of US$ 460 Million on June 10, 2014 as first IDA credit.
- Loan Agreement between the Government of Pakistan, WAPDA and the World Bank signed on August 25, 2014 at Islamabad in Prime Minister Secretariat. Loan Agreement has been effective from November 20, 2014
- To bridge the financing gap between Project cost and available IDA credit, local and foreign financial institutions/commercial banks were approached.
- Mandate to consortium of Seven (07) Local Banks led by M/s HBL issued on February 11, 2016 for financing upto Rs. 144 Billion against Govt. of Pakistan guarantees and WAPDA Balance Sheet. Agreement with bank is being finalized and be signed soon.
- RFPs for financing upto US$ 800 Million against World Bank PCG and Govt. of Pakistan guarantees issued to International Banks on March 11, 2016 after concurrence from MoF. RFPs received from banks by deadline i.e., April 21, 2016. Evaluation of Proposals is in progress.