Pakistan has decided to get $150 million from the World Bank for energy saving and capacity building of its officers.

According to a national daily, the Central Development Working Party (CDWP) on Monday approved the $150 million package for an energy efficiency and conservation project. The package is essentially a $135 million loan while the rest of the amount will be classified as a grant for technical assistance. Pakistan will pay a 2 percent interest on the loan, while the project will last for five years.

A large percentage of the loan will be used to strengthen the National Energy Efficiency and Conservation Authority’s capacity. Additionally, the funds will also be utilized to help shift from gas to electricity connections for home/industry/commercial clients.

More details reveal that $50 million will be used in converting to energy-efficient buildings, $65 million for switching over from gas to electricity in the commercial/residential/industrial sectors, and $15 million for capacity building of officers.

Source: Pro Pakistani