The lender also called overall risk substantial on the $727 million package, while rating day-to-day implementation moderately satisfactory and confirming a restructuring.
The World Bank rated progress toward KP Hydropower and Renewable Energy Development objectives as moderately unsatisfactory.
Overall risk on the roughly $727 million package is substantial; implementation progress is moderately satisfactory.
A $200 million market-based loan has disbursed only $3.95 million (under 2%); a $240 million concessional loan has disbursed about $34 million (about 14%).
Gabral-Kalam works have started, and the bank restructured the project at the government’s request.
Target completion remains 30 November 2027 for segments approved in 2020.