The World Bank has approved one billion dollar additional financing for Pakistan to support Dasu Hydropower Project and the transition to clean and affordable energy.

A decision to this effect was take in the World Bank’s Board of Executive Directors in Washington. According to a statement of the Bank, this financing will support the expansion of hydropower electricity supply, improve access to socio-economic services for local communities, and build the Water and Power Development Authority’s (WAPDA) capacity to prepare future hydropower projects.

According to a Radio Pakistan’s report, the Dasu Hydropower Project site is one of the best hydropower sites in the world and is a game changer for the Pakistan energy sector. With a very small footprint, the Project will contribute to greening the energy sector and lowering the cost of electricity.

The additional financing will further support ongoing socio-economic initiatives in Upper Kohistan, particularly in the areas of education, health, employment, and transport.