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Business Pakistan

Kuwait to provide $32 million loan for Neelum-Jhelum project

ISLAMABAD: Kuwait will provide additional loan of 32 million dollars to Pakistan for Neelum-Jhelum Hydro Power Project.

Agreement to this effect was signed in Islamabad on Thursday.

Secretary Economic Affairs Division Saleem Sethi and Deputy Director General Kuwait Fund, Hamad Al-Omar signed the agreement on behalf of their respective governments in Islamabad.
Finance Minister Ishaq Dar and Ambassador of Kuwait Nawaf Abdul Aziz Alenezi witnessed the signing ceremony. On completion the Neelum-Jhelum project will generate 969 MW of electricity.
Finance Minister welcomed signing of the agreement saying it adds another chapter to Pak-Kuwait economic cooperation.
Dy. DG Kuwait Fund said it was a pleasure for him to sign this agreement on behalf of government of Kuwait. He said Kuwait fund has undertaken a number of development projects in Pakistan and would continue its support.