Sri Lanka Secures 200 Million USD Loan from ADB for Power Sector Enhancement
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Colombo, Dec 10 (NationPress) The cabinet of Sri Lanka has greenlit a proposal to finalize two agreements with the Asian Development Bank (ADB) to bolster its power infrastructure and promote the integration of renewable energy projects, according to a release from the government's information department on Tuesday.
President Anura Kumara Dissanayake, acting as the Minister of Finance, Planning and Economic Development, presented the proposal, as reported by the Xinhua news agency referencing details from the department.
The ADB has committed to providing $200 million through two distinct loans—$150 million and $50 million—to Ceylon Electricity Board and Lanka Electricity (Pvt) Ltd., respectively, under two agreements backed by treasury guarantees, according to the department.
