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    Reference: 20120678
    Release date: 19 June 2013

    Promoter – Financial Intermediary

    The proposed loan would be granted to the Islamic Republic of Pakistan for on-lending to Water and Power Development Authority, a semi-autonomous public agency under the aegis of the Ministry of Water and Power.



    Keyal Khwar Hydropower comprises a medium-sized (122 MW) run-of-river hydropower plant with a small 1.5 ha reservoir for daily regulation (dam height of 38m). It is located on a tributary of the Indus River in northern Pakistan. This operation is proposed for co-financing with Kreditanstalt für Wiederaufbau (KfW) as lead financier under the Mutual Reliance Initiative.


    The proposed loan would support the deployment of renewable energy in Pakistan by the financing of a medium-sized run-of-river hydropower plant with a small 1.5 ha reservoir for daily regulation.


    This operation is covered by the EU Guarantee for EIB loans outside the EU.


    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    EUR 100 million

    Total cost (Approximate amount)

    EUR 222 million

    Environmental aspects

    An Environmental Impact Assessment was undertaken by the promoter and updated with supplementary studies in line with the Environmental and Social Impact Assessment requirements of KfW (the lead financier). The site of the reservoir is unpopulated and will not affect residents or cultivation. The negative social impacts are associated with the civil works and the widening of the access road that will affect people, housing and livelihoods along the route. On the positive side, the project will benefit local residents through improved transportation and employment opportunities. The project will not have significant negative impacts on sites of nature conservation and shall meet EIB environmental and social standards.


    The promoter will be required to implement the project in accordance with KfW procurement rules and procedures, and in compliance with the requirements and standards agreed between EIB and KfW for projects under the Mutual Reliance Initiative for operations outside the EU, as foreseen in the Bank's Guide to Procurement. In particular, calls for international tenders will be published in the EU Official Journal in accordance with the Bank's Guide to Procurement.


    Signed - 27/11/2013


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Pakistan Energy