ISLAMABAD, Pakistan: The Asian Development Bank (ADB) on Tuesday said it remained committed to working with the Pakistani government and its development partners including through China-Pakistan Economic Corridor (CPEC) projects to promote climate-smart growth and increase energy access.
“The decision of ADB’s Independent Evaluation Department (IED) to study Pakistan’s energy sector demonstrates the importance of power sector investments that encourage growth and help the Country meet its commitments to the Paris climate agreement” the ADB said clarifying media reports published in some Pakistan-based media regarding an evaluation approach paper on the energy sector made available on the ADB website.
“While the IED study is still underway, we look forward to its recommendations on how ADB can best work with Pakistan on holistic energy solutions that address generation, transmission, and distribution, as well as governance,” it further said.
These efforts can help solve Pakistan’s energy crisis, shift the Country towards a cleaner energy mix and low carbon growth, reduce its reliance on imported oil, and introduce new technologies and efficiencies that meet ADB’s stringent social and environmental safeguards.
In the limited instances where ADB supports coal-fired power generation, the Bank undertake a detailed study of a Country’s power situation and aims to introduce technologies that are more efficient and produce fewer CO2 emissions than conventional coal plants.
Going forward, ADB will continue to work with Pakistan to improve the governance of the energy sector, increase energy supply, and increasingly introduce renewable energy power generation to the Country.