Saudi Arabia has approved a funding of 901 million Saudi Riyal for the construction of Mohmand Hydropower Dam, ARY NEWS reported quoting Kingdom’s Ambassador to Pakistan Nawaf Bin Said Al-Maliki.
The Saudi envoy shared this while meeting with the Federal Minister for Economic Affairs Omar Ayub besides also discussing the success of Prime Minister Imran Khan.
He said that funding of 901 million Saudi Riyal was approved for the construction of Mohmand Dam from the Saudi Development Fund. “The funding is for 25 years and an interest rate of two percent will be charged on it,” said the envoy of Saudi Arabia.
Omar Ayub assured the Saudi envoy Nawaf Bin Said Al-Maliki of the early utilization of funds so that the construction of the project could be expedited. “The government is currently focused on improving renewable energy sources for the generation of power in the country,” he said.