CEB to borrow USD150mn from ADB with treasury guarantee

Oct 05, 2016 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board is to borrow 150 million US dollars from ADB through a treasury guarantee for the implementation of the green power development and energy improvement investment project.

The programme is to broaden electricity transmission infrastructure, increase efficiency of the medium voltage network, implement demand based electricity management through a pilot sub project in smart grid and metering.

The total investment of this program is 440 million US dollars of which 300 million US dollars will be provided by ADB, with this being the second tranche.

Repayment period for the loan is 25 years including a 5 year grace period and the loan negotiations are currently scheduled to be held with the ADB Bank.