Pakistan and Asian Development Bank (ADB) have inked a $300 million finance agreement for the Balakot hydropower development project, according to reports. The project’s total cost is US$ 755 million, with the Asian Development Bank (ADB) paying $300 million and the Asian Infrastructure Investment Bank (AIIB) contributing $280 million.
According to Omar Ayub Khan, who spoke at the ceremony, the run-of-river hydropower project would be built on the Kunhar River in the Mansehra district and will generate 300 megawatts of electricity.
