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Islamabad: The World Bank will provide Pakistan $294.7 million (around Dh1,082 million) for an electricity distribution improvement project and a water sector capacity building and advisory services project.
Towards this end, the Pakistani government and the World Bank signed two agreements Monday for an electricity distribution and transmission improvement project worth $256.7 million and for a water sector capacity building and advisory services project worth $38 million.
The power improvement project will assist the distribution and transmission companies in strengthening their capacity. It will also strengthen the institutional capacity of power distribution companies and support priority areas of the power sector reforms process.
The water-related project is aimed at improving the management and investment planning of water resources in the Indus River System.
Pakistan will repay the money in 35 years, which includes 10 years' grace.
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