ISLAMABAD - Pakistan and the Kuwait Fund on Wednesday signed Supplementary Loan Agreement of KD 4.5 million (equivalent to $1500million) for Golen Gol Hydropower Project. The State of Kuwait has already been co-financing this project with an amount of KD 11.00 million (equivalent to $3700million).

Kuwait Fund for Arab Economic Development (KFAED) Deputy Director General Ghanem Sulaiman Al-Ghenaiman signed the document on behalf of the Kuwait Fund while Economic Affairs Division Secretary Syed Ghazanfar Abbas Jilani signed it on behalf of the Government of Pakistan.

The ceremony held at Economic Affairs Division was attended by Mr. Fawaz Al-Adasani, Assistant Regional Manager for East, South Asia and Pacific Countries of Kuwait Fund, Fahad Al Mazeel, Charge d Affairs, Embassy of the State of Kuwait and senior officials from Economic Affairs Division, Ministry of Water Resources and Wapda.

The EAD secretary said that completion of the Golen Gol Hydroelectric Power Project will offer new opportunities for the people living in Chitral and Khyber Pakhtunkhwa (KP) province. It will meet electricity demand in the area and also boost tourism and economic activities.