OPEC Fund to lend $72mn for Mohmand Dam

By Staff Reporter

ISLAMABAD: OPEC Fund for International Development (OFID) will provide Pakistan $ 72 Million for the construction of Mohmand Dam Hydropower Project, a statement said on Wednesday.
The loan agreement was signed by Pakistan’s Ambassador to Austria Aftab Ahmad Khokher and Abdulhamid Alkhalifa, Director General of the Fund.
The OFID is co-funded by the Islamic Development Bank, Kuwait Fund, and Saudi Fund.
Upon completion, the Mohmand Dam Hydropower Project, located in Mohmand District of Khyber Pakhtunkhwa, will increase the country’s installed renewables capacity by 800MW and provide sustainable, potable water to two million residents in Peshawar city.
The project will also enhance food security through higher crop yields on almost 15,000 hectares of farmland, while improving the region’s resilience to floods. The dam will have a 1.6 million cubic metres reservoir and diversion tunnels that will feed into new and existing irrigation canals.