Pakistan to Receive $380 Million World Bank Loan for Power Sector Reforms
Pakistan is set to secure a $380 million loan from the World Bank for the BEST-PAK Multi-Phase Program aimed at enhancing its electricity transmission system. The program, valued at $700 million, seeks to improve energy reliability and support the Transmission System Expansion Plan (TSEP) from 2024-2034, with additional funding from the Asian Infrastructure Investment Bank and the Islamic Development Bank.
Pakistan is expected to receive a $380 million loan from the World Bank as part of the BEST-PAK Multi-Phase Program (MPA) to enhance its electricity transmission system. The total cost of the project is estimated at $700 million, with additional support anticipated from the Asian Infrastructure Investment Bank and the Islamic Development Bank.
AI-curated by TheiaThe initiative aims to improve transmission performance, energy security, and facilitate renewable energy deployment. Key components include the development of a 500-kV transmission corridor from Matiari to Rahim Yar Khan.
The project is part of a 10-year reform program (2026-2035) and addresses transmission bottlenecks that have led to reliance on costly LNG generation. Improving grid stability is deemed essential for making electricity supply more reliable and transitioning towards cleaner energy by 2030.
Comments