Saudi Arabia approves the Mohmand Hydropower Dam Loan at Rs. 37.4 Billion

In the case of the construction of the Mohmand Hydropower Dam, Saudi Arabia has granted 901 million Riyal Saudi (Rs. 37.four billion).

According to a reliable Ministerial Declaration, Saudi Arabia Embassy to Pakistan Nawaf Bin Said Al-Maliki met right here on Wednesday with the Federal Ministry of Economic Affairs Omar Ayub Khan.

A current hit go-to of Pakistan's Prime Minister, Imran Khan, to Arabia has been told by the Saudi Embassy to the minister of financial affairs.

The Saudi Envoy pronounced that the financing to the Mohmand Dam from the Saudi Development Fund of 901 million Saudi Riyal became authorized. This coin has been to be had for 25 years and could be paid a hobby fee of percent, stated the Saudi Arabia ambassador.

Omar Ayub knowledgeable the Saudi Arabia ambassador of the fast use of coins to complete the mission construction. The government's precedence is on boosting the country's renewable energies for power generation, the Minister stated.

This dam could increase and generate 800MW of electricity at the Swat River withinside the Mohman district of Khyber Pakhtunkhwa province. It also irrigates 16,000 acres of land withinside the vicinity and will increase output in agriculture. Thus, the dam will play an important part withinside the provincial government's socio-economic development.

The Economic Minister confused the importance of the Mohmand hydropower mission in unleashing the Khyber Pakhtunkhwa Province's hydropower capability and improving energy safety by boosting its share withinside the electricity mix. "The attention of our management is on electricity this is environmentally smooth and within your means via solar, wind, and hydrological improvement," he stated. Saudi help withinside the important sectors of development was acknowledged by the Minister of Economic Affairs.

Both parties also debated bilateral financial integration and agreed to accelerate the delivery of ongoing tasks for development. The Saudi Ambassador ensured that the 2 brotherly nations continued their help on every level to in addition beautify financial relations. The Ambassador of Saudi Arabia remarked that the Saudi side is considerably more active in Pakistan's socio-financial growth. The Ambassador also recognized the contribution played by Pakistani people in Saudi Arabia's growth.

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