World Bank willing to finance solar in Pakistan - report

The World Bank has expressed willingness to finance solar projects in Pakistan and the government is currently working on taking advantage of this opportunity, local newspaper The Express Tribune reported on Friday, citing sources.

According to the report, finance minister Ishaq Dar has had a meeting with the World Bank in the US and the institution has expressed readiness to finance the development of solar power plants with a tariff of USD 0.03 (EUR 0.028) to USD 0.035 per kWh, which is seen as attractive. The financing is to come from the bank's Green Fund.

To secure the funds, Pakistan's ministry of water and power will hire international experts to develop a road map and identify sites taking into account grid stability. The newspaper said that according to officials off-grid areas in the province of Balochistan would be suitable locations for the proposed solar parks of 50 MW-100 MW.

(USD 1 = EUR 0.919)

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