Pakistan and Germany have signed a financing agreement for Hydro power and Renewable Energy Phase-II worth Rs. 2,145.29 million. Under the agreement, German Development Bank will provide grant assistance worth 12.5 million Euros to the Government of Gilgit-Baltistan and Agha Khan Rural Support programme. The project has two components i.e the hydro power component and, the biodiversity component.
The implementation of the project in Gilgit-Baltistan will provide electricity for the population of Hunza and Nagar through the utilization of its abundant water resources, which will improve the living standards and livelihoods of the local population.
Source: Pro Pakistani