AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Kuwait has extended USD 40.0 million to Pakistan for the construction of USD 333.3 billion Neelum-Jhelum hydropower project.
According to Alfalah Securities Limited, Economic Affairs Division (EAD) and Neelum Jhelum Hydropower Project Company (NJHPC) have signed a subsidiary loan agreement on Monday between Kuwait and Pakistan. The Neelum Jhelum Hydropower Project is located at Muzaffarabad district of Azad Jammu and Kashmir and upon its completion it will generate approximately 1,000 MW of electricity. Fund for Arab Economic Development is one of the donors of this project with the other donors being Exim Bank China and UAE and Saudi Fund for Development.