The other lenders on the New Bong Escape Hydroelectric Project are Asian Development Bank, Habib Bank Limited, Islamic Development Bank, National Bank of Pakistan, International Finance Corporation and Proparco.

Mott MacDonald will continue to monitor construction of the hydropower project on behalf of the lenders until project completion in 2013.

The hydropower project sponsored by Laraib Energy Ltd is worth around US$200 million.

Mott MacDonald’s Project Director, Jeff Kerr, says: “It’s exciting to be involved in the first private hydroelectric project in Pakistan to complete financial close.”