Saudi Arabia’s ambassador to Pakistan Nawaf Bin Said Al-Maliki said that Saudi Arabia has approved funding for the construction of Mohmand Dam on Wednesday. The Saudi envoy brought up this point during a meeting with Omar Ayub, the Federal Minister for Economic Affairs. Consequently, the Saudi Development Fund has approved funding of 901 million Saudi Riyal for the construction of Mohmand Dam.
Saudi Arabia’s envoy said that the funding would be made available for 25 years at an interest rate of 2%. Ayub assured Al-Maliki that funds would be used as soon as possible for the construction of the project. According to him, the government is currently working to improve the power generation in the country by using renewable energy sources.
Source: Ary News