ECONOMYNEXT – The Asian Development Bank has approved a 100 million US dollar policy loan for Sri Lanka and a 2.5 million dollar technical assistance grand linked to power sector reforms and expansion of renewable energy. This second subprogram of ADB’s Power Sector Reforms and Financial Sustainability Program is linked to unbundling the Ceylon Electricity Board in to into independent successor companies for generation, transmission, system operation, and distribution. “Sri Lanka has made important progress in stabilizing its economy and strengthening its fiscal position,” ADB Country Director for Sri Lanka Takafumi Kadono said in a statement. “A well-functioning power sector…
Sri Lanka gets $100mn budget support loan on power reforms
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