EAD signed the Financing Agreement of US$ 120 million with the World Bank for “Central Asia South Asia Electricity Transmission and Trade Project (CASA-1000)
Economic Affairs Division signed the Financing Agreement of US$ 120 million with the World Bank for “Central Asia South Asia Electricity Transmission and Trade Project (CASA-1000)”.
The Financing Agreement was signed by Mr. Muhammad Saleem Sethi, Secretary, Economic Affairs Division (EAD) on behalf of the Government of Pakistan, and Mr. Rachid Benmessaoud, Country Director World Bank on behalf of World Bank.
The general agreement and the power purchase agreements between economic entities of Tajikistan, Kyrgyzstan, Afghanistan and Pakistan had been signed in Istanbul, Turkey on April 24, 2015. Besides, a grant agreement of 45 million U.S. dollars and Project Agreement was also signed between Tajikistan and the International Development Association (IDA) and World Bank and NTDC, respectively.
The Project is aimed to create conditions for facilitating sustainable electricity trade between the Central Asian countries of Tajikistan and Kyrgyz Republic and the South Asian countries of Afghanistan and Pakistan.
The project would also build the NTDC’s capacity to prepare existing as well as future transmission lines by construction of High Voltage Transmission Infrastructure, Project Implementation Support and Community Support Programs.
The project will facilitate the expansion of electricity supply in Pakistan and benefit most sectors of the economy. The direct beneficiaries would be the millions of energy users, including industry, households and farmers who would get more electricity at lower cost and suffer fewer blackouts. The project would provide more electricity during the summer months when capacity shortages are most severe, and thus benefit all electricity users.
The Central Asia South Asia Electricity Transmission and Trade (CASA-1000) Project is designed to transmit 1,300 MW of surplus electricity from Tajikistan and Kyrgyzstan to Afghanistan and Pakistan. The project is reportedly scheduled for completion by 2018 under the umbrella of the World Bank.