A Loan Agreement was signed between Government of Pakistan and Kuwait Fund for Arab Economic Development (KFAED).
Signing a subsequently Subsidiary Loan Agreement between Economic Affairs Division on behalf of the Government of Pakistan and Neelum Jhelum Hydropower Project Company (NJHPC) a subsidiary of Water & Power Development Authority (WAPDA) was a legal requirement to make the Loan Agreement effective.
The Subsidiary Loan Agreement was signed between EAD and NJHPC. Mr. Abdul Wajid Rana, Secretary EAD represented the Government of Pakistan while Lt. Gen. (R) Muhammad Zubair, Chief Executive Officer represented the NJHPC.
The Neelum Jhelum Hydropower Project is located at Muzaffarabad district of AJK. Upon its completion it will generate approximately 1000 MW of electricity. KFAED is one of the donors of this project the other donors being Exim Bank China, UAE and Saudi Fund for Development.
This project aims at developing the National power Generation System to meet the increasing electricity demand in the country and indigenous renewable energy resources namely the hydro resources
