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Pakistan has formally requested an additional $300 million from the World Bank to cover cost escalation on the 1,410 MW Tarbela 5th Hydropower Project. The request is the second top-up under the existing Tarbela 4th Extension Hydropower Project loan, the parent facility through which the Bank is funding the broader Tarbela Dam expansion.
The World Bank has approved $375.9 million in financing for Pakistan's Grid Stability Enhancement Project, the first phase of a 10-year programme to modernise the national transmission network and cut power outages. The project will unlock 640MW of currently curtailed wind energy and enable the full use of 1,840MW of southern Pakistan's wind capacity, aiming to structurally reduce fuel costs on household electricity bills.
WAPDA reports that Tarbela Dam has generated 586 billion units of electricity and delivered $460 billion in economic benefits to Pakistan in the 50 years since 1974. The dam's fifth extension, backed by $690 million from the World Bank and AIIB, is under active construction and will raise total installed capacity from 4,888MW to 6,418MW.