{"id":70951,"date":"2020-09-28T18:03:51","date_gmt":"2020-09-28T13:03:51","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=70951"},"modified":"2020-09-28T18:03:53","modified_gmt":"2020-09-28T13:03:53","slug":"wb-to-lend-funds-to-support-pakistans-conversion-to-renewable-energy","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/wb-to-lend-funds-to-support-pakistans-conversion-to-renewable-energy.html","title":{"rendered":"WB to lend funds to support Pakistan\u2019s conversion to renewable energy"},"content":{"rendered":"\n<p>Islamabad: The World Bank has agreed to provide USD 450 million to assist Pakistan in converting to clean renewable energy \u2013 as the country works to reduce its dependence on fossil fuel, according to a news source published on September 26.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/govt-urged-remove-impediments-wb-funded-projects-pakistan.html\" target=\"_blank\" rel=\"noreferrer noopener\"><a rel=\"noreferrer noopener\" href=\"https:\/\/www.zameen.com\/news\/pakistan-produce-one-third-electricity-renewable-sources-2030.html\" target=\"_blank\">Pakistan to produce one-third of its electricity from renewable sources by 2030<\/a><\/a><\/p>\n\n\n\n<p>The project seeks to convert to domestic clean resources by investing in renewable energy generation \u2013 using both hydropower and solar-powered sources in the Upper Dir and Swat districts of the Khyber Pakhtunkhwa (KP). The cost estimation to develop this project is USD 727 million \u2013 out of which USD 450 million is being provided by the World Bank. The WB loan includes a loan of worth USD 200 million from the International Bank for Reconstruction and Development (IBRD) and USD 250 million credit from the International Development Association (IDA).<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/kp-govt-seeks-wb-assistance-hydropower-project-swat-river.html\" target=\"_blank\" rel=\"noreferrer noopener\">KP govt seeks WB assistance for hydropower project on Swat River<\/a><\/p>\n\n\n\n<p>Furthermore, it is reported that this project, titled \u2018Khyber Pakhtunkhwa Hydropower and Renewable Energy Development\u2019 will offer low-carbon and cheaper power. This project will also contribute to the socioeconomic development of the communities residing near the development sites.<\/p>\n\n\n\n<p>The World Bank country director for Pakistan Najy Benhassine has said that this initiative will support Pakistan\u2019s aim to become a low-carbon, renewable energy-reliant economy by 2030 and will facilitate<a href=\"https:\/\/www.zameen.com\/news\/turkey-investment-alternative-energy-policy.html\" target=\"_blank\" rel=\"noreferrer noopener\"> renewable energy<\/a> initiatives that are \u201ctechnically sound, environmentally and socially sustainable, and investment-ready.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The World Bank has agreed to provide USD 450 million to assist Pakistan in converting to clean renewable energy \u2013 as the country works to reduce its dependence on fossil fuel, according to a news source published on September 26. Read: Pakistan to produce one-third of its electricity from renewable sources by 2030 The project seeks to convert to domestic clean resources by investing in renewable energy generation \u2013 using both hydropower and solar-powered sources in the Upper Dir and Swat districts of the Khyber Pakhtunkhwa (KP). The cost estimation to develop this project is USD 727 million \u2013 out of which USD 450 million is being provided by the World Bank. The WB loan includes a loan of worth USD 200 million from the International Bank for Reconstruction and Development (IBRD) and USD 250 million credit from the International Development Association (IDA). Read: KP govt seeks WB assistance for hydropower project on Swat River Furthermore, it is reported that this project, titled \u2018Khyber Pakhtunkhwa Hydropower and Renewable Energy Development\u2019 will offer low-carbon and cheaper power. This project will also contribute to the socioeconomic development of the communities residing near the development sites. The World Bank country director for&hellip;<\/p>\n","protected":false},"author":75,"featured_media":64996,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15012,15181,15016],"tags":[40449,21890],"persona":[],"class_list":{"0":"post-70951","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-allied-industries","8":"category-environment","9":"category-new-developments","10":"tag-wb-to-lend-funds-to-support-pakistan-conversion-to-renewable-energy","11":"tag-world-bank-wb","12":"cat-15012-id","13":"cat-15181-id","14":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>WB to support Pakistan\u2019s conversion to renewable energy - Zameen News<\/title>\n<meta name=\"description\" content=\"The project seeks to convert to domestic clean resources by investing in renewable energy generation \u2013 using both hydropower and solar-powered sources\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/wb-to-lend-funds-to-support-pakistans-conversion-to-renewable-energy.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WB to support Pakistan\u2019s conversion to renewable energy - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The project seeks to convert to domestic clean resources by investing in renewable energy generation \u2013 using both hydropower and solar-powered sources\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/wb-to-lend-funds-to-support-pakistans-conversion-to-renewable-energy.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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