US EXIM BANK WILLING TO FINANCE 3600 MW LNG BASED POWER PLANTS
Chitral Times Report
Islamabad: The spokesman of the Ministry of Finance said
here Saturday that Vice President of US Exim Bank, Annette Maresh
in a letter addressed to Finance Minister Senator Mohammad Ishaq
Dar, has expressed strong interest in providing financing for the
three LNG based power plants at Baloki, Bhikki and Haveli Bahadar
Shah, in Pakistan.
It may be recalled that Finance Minister had started engagement
with US Exim Bank during his visit to the US in September 2015. He
met senior officials of the Bank and gave a detailed account of the
business and investment opportunities in Pakistan. He urged the
Bank to explore financing development projects in Pakistan. He also
invited the Chairman of the Bank to visit Pakistan for the purpose.
The spokesman said that Chairman & President of Exim Bank Fred
Hochberg accepted the invitation and visited Pakistan in April 2016
along with other senior officials. The Chairman had a detailed
meeting with the Finance Minister and was given detailed briefing
on various upcoming projects, especially energy projects where Exim
Bank could participate.
In consequence of the above efforts, the Bank has now expressed
strong interest in providing financing for the three LNG based
power projects. The Bank has also offered multiple financing
options for the consideration of the government of Pakistan.
Finance Minister, Ishaq Dar while welcoming the decision of US Exim
Bank to finance LNG based power projects has directed the relevant
government departments to work out the details of the financing at
The decision by the Exim Bank to finance the energy projects also
indicates the confidence of international institutions in economic
stability and improved investment climate in the country, the