World Bank rates progress on KP hydropower, renewable energy project 'moderately unsatisfactory'
ISLAMABAD: The World Bank on Wednesday dubbed the progress on the Khyber Pakhtunkhwa Hydropower and Renewable Energy Development project “moderately unsatisfactory”, with “substantial risk” to its $727 million loan meant for strengthening provincial institutions and increasing renewable energy generation. In its public disclosure , the Washington-based lending agency rated the progress towards…
The World Bank has rated progress on the Khyber Pakhtunkhwa Hydropower and Renewable Energy Development project as "moderately unsatisfactory," citing "substantial risk" to its $727 million loan. The project aims to strengthen provincial institutions and increase renewable energy generation in Khyber Pakhtunkhwa, Pakistan. The World Bank rated overall implementation progress as "moderately satisfactory," but identified substantial risks in political and governance, technical design, macroeconomic, institutional capacity, fiduciary issues, and environmental and social parameters.
The bank has restructured the project to align with implementation priorities and emphasized the need for effective contract management and compliance with environmental and social requirements.
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