World Bank rates progress on KP hydropower, renewable energy project 'moderately unsatisfactory'

ISLAMABAD: The World Bank on Wednesday dubbed the progress on the Khyber Pakhtunkhwa Hydropower and Renewable Energy Development project “moderately unsatisfactory”, with “substantial risk” of its $727 million loan meant for strengthening provincial institutions and increasing renewable energy generation. In its public disclosure , the Washington-based lending agency rated the progress towards the achievement of project development objectives as “moderately unsatisfactory”. Various segments of the loan were approved in 2020 with a targeted completion date of Nov 30, 2027. However, the World…