World Bank approves $195 M loan for Pakistan
USA, Washington: The World Bank's Board of Executive Directors has approved $195 M loan for Pakistan.
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USA, Washington: The World Bank’s Board of Executive Directors has approved $195 M loan for Pakistan.
The loan will serve to improve electricity distribution and implement energy sector reforms to increase service quality for consumers.
“The Electricity Distribution Efficiency Improvement Project (EDEIP) will help distribution companies improve operations to manage the electricity supply more efficiently and increase the reliability of the electrical grid. It focuses on cost-saving interventions to increase revenue collection and reduce losses, and on modernizing operations by employing technology and information systems. The project will also invest in climate-resilient infrastructure, particularly grid stations and transmission lines, which are critical to distribution and utility services,” the World Bank said in a statement on Saturday.
“The long-term financial viability of the power sector depends on improving the efficiency of electricity distribution companies that deliver electricity to consumers,” said Najy Benhassine, World Bank Country Director for Pakistan. “These efforts will improve the operational and financial performance of select distribution companies to improve their bankability and ultimately generate more private sector participation.”
The statement said the EDEIP will support institutional reforms to improve governance and transparency and will develop systems and practices to improve managerial performance and compliance with regulatory requirements. In addition, the project will help build the technical capacity of the distribution companies by providing training programs, tools, and equipment to improve staff performance in key utility operations.
Source: Times of India