ISLAMABAD, Asharq Al-Awsat- — The Asian Development Bank (ADB) has signed a $150 million loan agreement with Karachi Electric Supply Corporation (KESC), which is now run by a private party, according to the Saudi Press Agency.
The loan is part of KESC’s $809 million capital investment programme to increase its power generation and improve transmission and distribution systems.
The statement said the balance of funding for the investment programme will come from shareholders, the International Finance Corporation and local commercial banks.
This investment will add 785mw of power to the utility’s current generation of 1,500mw.
Asharq Al-Awsat
Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.
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