KARACHI: The European Investment Bank (EIB) has, in principle, agreed to extend financial support to the Karachi Water and Sewerage Corporation (KWSC) to improve the city’s water and sewerage infrastructure.
A KWSC spokesman stated that the water utility proposed a $100 million investment project to the European Investment Bank. Necessary arrangements and discussions will be held with the provincial and federal governments following a thorough examination of the project.
He added that a high-level review mission from the European Investment Bank would visit the KWSC to evaluate the investment plan.
The spokesman further mentioned that the EIB mission would assess the feasibility of constructing water treatment plants at Pipri, Gharo, and Hub, along with investing in renewable energy projects and reducing energy wastage.
KWSC CEO Syed Salahuddin Ahmed told Dawn the water utility discussed with the EIB the need for a $4 billion investment to upgrade Karachi’s water and sewerage infrastructure.
He said EIB expressed keen interest in collaborating with World Bank and the Asian Infrastructure Investment Bank.
Published in Dawn, December 28th, 2024
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