$ 100 m ADB loan for power sector reforms

The Cabinet approved a $100 million ADB loan to support reforms in the Ceylon Electricity Board and Ceylon Electricity Company, as part of a $300 million program to overhaul Sri Lanka's power sector.

The Cabinet of Ministers approved a $100 million loan from the Asian Development Bank (ADB) to support institutional and structural reforms within the Ceylon Electricity Board (CEB) and Ceylon Electricity Company. This initiative is part of a broader Renovation and Financial Sustainability Program aimed at overhauling Sri Lanka's power sector, with total financial assistance expected to reach $300 million. President Ranil Wickremesinghe, in his capacity as Finance, Economic Stabilisation, and National Policies Minister, proposed the plan, which outlines three sub-programs, each receiving $100 million in funding, subject to preliminary discussions between the Government and the ADB.

$ 100 m ADB loan for power sector reforms | Daily FT

Daily FT

2024-07-03

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