World Bank to help develop Pakistan’s renewable energy sector

ISLAMABAD: World Bank President Dr Jim Yong Kim on Monday offered technical and financial help in technological improvements in the renewable energy sector.

He was talking to Finance Minister Ishaq Dar who called on him during the spring meetings of the World Bank and International Monetary Fund (IMF) in Washington, said a message received from the Embassy of Pakistan. Mr Dar acknowledged the role being played by the World Bank for resolving the disputes under the Indus Waters Treaty and urged expediting the process.

He said the resolution of the issue “would lead to water security in the region”.

He briefed Mr Kim about the improvement in the macroeconomic situation and said the focus was now on making the growth inclusive and sustainable.

He informed innovative measures, including Pakistan Development Fund and Pakistan Infrastructure Bank, were being undertaken to maintain the higher growth trajectory, he said.

On his part, President Kim recognised the successful completion of the IMF programme and hoped that Pakistan would continue the reform process going forward to sustain the high growth trajectory.

Mr Dar sought the World Bank’s support in undertaking hydropower projects on Indus River cascade.

Mr Kim assured continued support for projects like Dasu and Tarbela as well as other hydropower projects.

Source: Dawn