World Bank Approves $195 Million to Improve Electricity in Pakistan
The World Bank’s Board of Executive Directors approved $195 million in financing to support Pakistan. This amount is approved to improve electricity distribution system and implementing energy sector reforms in Pakistan. This will increase service quality for consumers, a press release issued yesterday showed.
The Electricity Distribution Efficiency Improvement Project (EDEIP) will help distribution companies improve operations to manage the electricity supply more efficiently and increase the reliability of the electrical grid. It will focus on decrease of load shedding in Pakistan. Further, it is also a cost-saving interventions to increase revenue collection and reduce losses, and on modernizing operations by employing technology and information systems. The project will also invest in climate-resilient infrastructure, particularly grid stations and transmission lines, which are critical to distribution and utility services.
“The long-term financial viability of the power sector depends on improving the efficiency of electricity distribution companies that deliver electricity to consumers,”, the Najy Benhassine said, World Bank Country Director for Pakistan. “These efforts will improve not only load shedding in Pakistan but also the operational and financial performance of select distribution companies to improve their bank ability. This will ultimately generate more private sector participation.”