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Thursday, June 21, 2018

CASA-1,000 countries reject Russian funding

The countries participating in the Central Asia South Asia 1,000 megawatt power import project have rejected Russia's offer to provide $500 million to establish a transmission system to bring electricity from Kyrgyzstan and Tajikistan to Afghanistan and Pakistan.

In exchange, Russia wanted the contract for gas import projects. Pakistan had welcomed the offer, The Express Tribune reports.

"However, other participating countries of the project - Afghanistan, Kyrgyzstan and Tajikistan - have not expressed interest in this offer and therefore no progress has been made so far in this regard," a source said, according to The Express Tribune.

The World Bank and Islamic Development Bank have now agreed to provide $1 billion to implement the power import plan.

CASA-1000 is designed to transmit 1,300 MW of surplus electricity from Tajikistan and Kyrgyzstan through Afghanistan, which will consume 300 MW, to Pakistan. The memorandum of understanding between the four governments was signed on November 16, 2007, in Kabul.