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Third party institution to invest $100 million in CPEC’s hydropower project

Mar 16, 2017

International Finance Corporation (IFC), a member of the World Bank Group, is investing $100 million in the landmark 720MW Karot run-of-river hydropower project in Pakistan to help overcome severe power shortage and spur growth, a statement said on Tuesday. IFC’s support for the $1.7 billion project on the River Jhelum, which has now reached its financial close, marks the IFC’s first project finance engagement with China Three Gorges Corporation (CTGC), one of the world’s largest renewable power companies. In 2015, IFC acquired a 15 percent stake in China Three Gorges...

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