Pakistan receives a $300 million policy-based loan from the Asian Development Bank

According to sources, Pakistan and the Asian Development Bank (ADB) signed a $300 million financing agreement for the Balakot hydropower development project.

The entire cost of the Balakot hydropower development project is US$ 755 million, with the Asian Development Bank (ADB) contributing $300 million and the Asian Infrastructure Investment Bank (AIIB) contributing $280 million.

The run-of-river hydropower project will be built on the Kunhar River in the Mansehra area, and would create 300 megawatts of electricity, according to Omar Ayub Khan, who spoke at the event.