Jan 17, 2013 (LBO) – Japan will provide 15.9 billion yen (23.91 billion rupees) loan to upgrade the power grid around Sri Lanka’s capital Colombo, information minister Keheliya Rambukwelle said. The Japan International Corporation will give 40 year loan at 0.3 percent with a 10 year grace period.
The funds will be used to strengthen the transmission and distribution network in the Greater Colombo region which will improve reliability and cut system losses.
Minister Rambukwelle said the cabinet of minister had given the nod to enter into a loan agreement with Japan.
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