ISLAMABAD                      -                  Pakistan and France on Tuesday signed grant financing agreement worth € 0.5 million for technical assistance to the Private Power & Infrastructure Board (PPIB). Dr Syed Pervaiz Abbas, Secretary Economic Affairs Division (EAD), and Marc BARÉTY, Ambassador of France to Pakistan, along with Philippe Steinmetz, Country Director of the French Agency for Development (AFD), signed the grant financing agreement worth € 0.5 million for technical assistance to the Private Power and Infrastructure Board (PPIB).

The French grant assistance will support PPIB in its mandate of hydroelectricity sector development in Pakistan while enhancing the competitiveness of renewable power generation. The grant facility would be utilized to develop a mechanism for tariff-based bidding of hydropower projects, review of feasibility studies for hydropower projects and capacity building of the PPIB employees through specialized modules of training on financial analysis & tariff determination, project & corporate finance and technical pieces of training for operation and maintenance of the power plants. The project will contribute to improve affordability and scaling up supply of energy while mitigating the impacts of power generation on climate and environment, in line with the policies of the Government of Pakistan.

The Republic of France through the French Agency for Development is working in Pakistan providing technical and financial support in the energy and urban development sector where Euros 700 m financial support has been committed since 2016.

Secretary EAD thanked the French government and AFD for extending this financial assistance to Pakistan.