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ISLAMABAD: The World Bank has said its board of executive directors has approved $375.9 million in financing for Pakistan’s grid stability enhancement project to strengthen the country’s national power transmission network.
The financing is part of the Boosting Energy Security through Transmission in Pakistan (BEST-PAK) Multiphase Programmatic Approach, the lender said on Friday.
The project is the first phase of a 10-year programme to help Pakistan modernise its electricity transmission network, reduce power outages, and bring more clean energy to homes, businesses, and industries.
World Bank Country Director for Pakistan Bolormaa Amgaabazar said, “Pakistan’s energy challenges are deeply interconnected with its broader economic stability. By investing in advanced technologies for more resilient transmission infrastructure, this project will help reduce electricity costs, bring more renewable energy onto the grid, and lay the groundwork for a power sector that works better for households, businesses, industries, and Pakistan’s economy as a whole.”
