Kuwait Fund for Arab Economic Development (KFAED) is providing a loan of $40 million to Pakistan for construction of Neelum-Jhelum Hydropower Project. The preliminary signing ceremony took place between Government of Pakistan and Kuwait Fund and subsequently with Neelum Jhelum Hydropower Project Company (NJHPC), a subsidiary of Water & Power Development Authority (WAPDA).
The project is located at Muzaffarabad district of AJK. The other donors include Exim Bank of China, UAE and Saudi Fund for Development. The project aims at developing national power generation system and to build the indigenous renewable energy resources.