World Bank Approves $195 Million to Support Pakistan’s Energy Sector

World Bank approves $195 Million to support Pakistan's energy sector. news

ISLAMABAD: On Saturday, the World Bank’s Board of Executive Directors authorized $195 million in funding to assist Pakistan in strengthening power distribution and implementing energy sector reforms to improve customer service quality.

The Electricity Distribution Efficiency Improvement Project (EDEIP) will assist distribution firms in improving supply and increasing grid reliability.

“The project will focus on strengthening operations and governance of Hyderabad Electric Supply Company, Multan Electric Power Company, and Peshawar Electric Supply Company,” said Mohammad Saqib, Task Team Leader for the project. “With the leadership of the Ministry of Energy, this project will bolster market-sector reforms, reduce transmission and distribution losses, and improve the sector’s financial performance.”

The Electricity Distribution Efficiency Improvement Project (EDEIP) supplements the World Bank’s ongoing power sector support, which includes transmission network, renewable energy generation, and reforms through the Pakistan Programme for Affordable and Clean Energy (PACE), which focuses on improving financial viability and transitioning to low-carbon energy.

According to the World Bank, the project would improve the reliability of power services for residential, agricultural, commercial, and industrial clients in project regions while also helping to reduce carbon emissions.

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