ISLAMABAD (Lord Media): The World Bank has approved a loan of 375.9 million U.S. dollars for Pakistan aimed at reducing power outages. This financial assistance is for the first phase of a 10-year energy program, which will enhance the electricity transmission system and modernize the national power grid.
According to the World Bank, this project will add an additional 640 megawatts of wind power to the national grid, playing a significant role in promoting renewable energy. The modern transmission system will also reduce electricity costs, enabling better power supply to domestic, industrial, and commercial consumers.
The statement mentioned that under the program, Pakistan’s electricity system will be made more resilient to climate changes. The project is expected to reduce carbon emissions by approximately 832,000 tons annually, strengthening the government’s power sector reforms.
The World Bank stated that the project will improve electricity transmission and stabilize the system, while also boosting efforts to increase the share of renewable energy in Pakistan.
