Skip to content Skip to Search
Skip navigation

Saudi fund loans $240m for Pakistan’s hydropower dam

SDF
Officials signing the $240 million loan facility for Mohmand hydro-power complex in Pakistan

State-owned Saudi Fund for Development (SFD) has signed a $240 million loan agreement to support the Mohmand dam project, a hydropower complex in north-west Pakistan.

The dam will contribute to Pakistan’s energy security, increase sustainable water supply for agriculture and human consumption, and improve flood resilience, the SFD said.

Co-financed by the SFD, the Organisation of the Petroleum Exporting Countries, Kuwait Fund for Arab Economic Development and Islamic Development Bank, the project will use renewable sources to generate 800 megawatts of electricity production capacity, contributing to Pakistan’s energy security.

In addition, the storage of 1.6 million cubic meters of water will support sustainable agricultural practices, enable irrigation of 6,773 hectares of new land, and increase the total cropping area from 1,517 hectares to 9,227 hectares in the province.

SFD chief executive Sultan Abdulrahman al Marshad stated that the initiative is an extension of the fund’s continued support for development projects and programmes in Pakistan.

The SFD has financed around 41 development projects and programmes in Pakistan, amounting to approximately $1.4 billion. It has also funded oil derivatives worth more than $5.4 billion between 2019 and 2023 to support Pakistan’s economy.

Latest articles

Turkey foreign property sales

Foreigners turning back on Turkish real estate

Foreign buyers are increasingly shunning the Turkish property market, wary of high prices, the expensive cost of living and a less welcoming environment for overseas real estate investors. There were only 2,064 residential units sold to foreign buyers in May, 35 percent down on the same month last year, data issued by the state statistics […]

Adult, Male, Man

UAE to invest in Turkey’s economic sectors says minister

The UAE is willing to invest across numerous sectors in Turkey, said Emirati energy and infrastructure minister Suhail Al Mazrouei. The Gulf state is exploring opportunities in the energy, agriculture, transportation, tourism and other sectors, state-run Anadolu Agency (AA) news agency reported, citing the minister on the sidelines of the St. Petersburg International Economic Forum. […]

Opec Secretary General Haitham Al Ghais says peak oil 'is not on the horizon'

Upstream oil and gas ‘needs more annual investment’

Annual capital expenditure for exploration and production in the upstream sector of the oil industry needs to increase by 22 percent by 2030 because of growing demand and cost inflation, experts say. A cumulative $4.3 trillion needs to be invested between 2025 and 2030, according to a report by the International Energy Forum (IEF) and […]

2KEY8G1 Emirates Airline Airbus A380 aircraft landing. Aerial view of Emirates Airlines A380-800 airplane. An Emirates plane coming in to land at LAX; a spokesperson for Emirates said the contraventions were for safety reasons

US fines Emirates for operating in prohibited airspace

Emirates has been fined $1.5 million by the US Transportation Department for operating flights carrying JetBlue Airways’ JBLU.O designator code in prohibited airspace. The transportation department said that between December 2021 and August 2022, Emirates operated a significant number of flights carrying the JetBlue Airways code between the United Arab Emirates and the United States […]