PM’s address to the launching ceremony of WAPDA’s debut Green Euro (Indus Bond) for construction of Diamer Basha and Mohmand dams

PM’s address to the launching ceremony of WAPDA’s debut Green Euro (Indus Bond) for construction of Diamer Basha and Mohmand dams

ISLAMABAD, May 31 (APP): Prime Minister Imran Khan on Monday formally launched the country’s first green Eurobond, called Indus bond, by Water and Power Development Authority (WAPDA) to meet the financial needs of the construction of Diamer Bhasha and Mohmand dams.

The bond has been floated for 10 years to raise $500 million at a competitive price of about 7.5 per cent interest rate.
The Prime Minister lauded Chairman WAPDA and his team for the landmark achievement of securing bonds in international market, at a launch ceremony held at the PM House.

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Imran Khan expressed satisfaction over the interest of leading international investors in Pakistan’s green Eurobond, saying it reflected their confidence in the government and WAPDA.

He lauded WAPDA for the fast pace of construction of dams, which he said was vital to produce clean energy for green environment and save the coming generations.

The Prime Minister said the “decade of dams” project, initiated in 2018 should have been worked up five decades ago to ensure water security.
“Ten dams to be built in next 10 years will produce 10,000 mega watt clean electricity. It is a step towards thinking about our next generations,” he emphasized.

He stressed long-term planning instead of short-term election-to-election approach to carry out development projects in the country.

He regretted that Pakistan’s short-term planning in electricity generation resulted in the highest per unit rate of the commodity compared with rest of the countries in South Asia.

Imran Khan said clean energy production supplemented by the 10 Billion Tree project would help overcome impacts of climate change and rising levels of pollution in big cities.

The establishment of 15 new national parks, recharging the wetlands and growing dense mangroves are the government’s effective steps to counter global warming, he added.

The Prime Minister touched upon other areas where the government was focused to bring a change including uniform academic syllabus, health card scheme, controlling mother and child mortality rate, and reforms for agriculture and livestock.
Finance Minister Shaukat Tareen said the success in securing the interest of international companies in WAPDA’s bond showed confidence of international community in the leadership of Prime Minister Imran Khan.