Sri Lanka approves electricity improvement project

Standing left to right – Mr. Dinesh Jebamani (Chief Manager Liability Product Management and New Age Media – Seylan Bank), Mr.Sudesh Peiris (Senior Manager – Digital Banking Channels – Seylan Bank), Ms. S.Senevirathne (Representative of the Revenue Department – Western Province), Mr. Tilan Wijeyesekera (Deputy General Manager – Retail Banking – Seylan Bank) and Mr. Malik Wickremanayaka (Deputy General Manager – Operations – Seylan Bank)

April 24, 2009 (LBO) – The Sri Lankan government said the Cabinet has approved a foreign aid funded project to expand and improve electricity services, especially to the poor, and support renewable energy. Media minister Anura Yapa said the Asian Development Bank is giving a loan of 164 million dollars for the project with the government to put in funds equivalent to 24 million dollars.

The ADB aid consists of loans of 135 million dollars from its Ordinary Capital Resources and 25 million dollars from its concessional Asian Development Fund for Sri Lanka’s Clean Energy and Access Improvement Project.

It includes a grant of 2.2 million dollars from ADB’s Climate Change Fund, Yapa told a news conference to brief the media on Cabinet decisions.

Yapa said the funds will also be used to improve coverage and service efficiency of the power transmission and distribution networks of the state power utility, Ceylon Electricity Board, and distributor Lanka Electricity Company.