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Sri Lanka: Cabinet nod to secure $200M from ADB to upgrade power infrastructure

The Cabinet green-light has been granted to secure a US$200 million loan from Asian Development Bank (ADB) to upgrade Sri Lanka’s power sector infrastructure, to enhance the reliability of transmission and distribution networks, leading to greater integration of renewable energy. The ADB has agreed to grant US$ 200 million in two separate loans for Ceylon Electricity Board (US$150 million) and Lanka Electricity (Pvt) Ltd (US$ 50 million) respectively, under two agreements on Treasury guarantee. Accordingly, President Anura Kumara Dissanayake in his capacity as the Minister of Finance, Planning, and Economic Development this week sought the approval of the Cabinet of Ministers to enter into a security agreement with the ADB to obtain the US$ 200 million loan. The project is expected to improve the two utility providers’ ability to integrate and manage renewable energy systems, adopt digital solutions, and enhance hosting capacity of rooftop solar installations. According to ADB Country…...

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11 Dec 2024

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Concord Review is owned and operated by PT Concord Consulting Indonesia (“Provider”). Please read these Terms of Use (the “Terms”) carefully before using Concord Review. By accessing or using Concord Review in any way, including without limitation, browsing the website using any information emailed, text-messaged or on the website, and/or subscribing to the online service; you agree to and are bound by the terms, conditions, policies and notices contained in these “Terms.”

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In no event shall Provider be liable for any indirect, incidental, special, punitive, increased or consequential damages, loss of profits, revenue, data, goodwill or use, incurred by you or any third party, whether in an action in contract or tort (including negligence and strict liability), arising from your access to or inability to access, or use of, this site or any services provided in connection with this site, even if Concord Review has been advised of the possibility of such damages.

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17. GENERAL

If any provision in these Terms is found by a court or arbitrator to be invalid, the parties agree that the court or arbitrator should give effect to the parties’ intentions as reflected in the provision, and the other provisions of these Terms will remain in full force and effect. Provider’s failure to act with respect to a breach by any visitor using Concord Review does not constitute a waiver of its right to act with respect to subsequent or similar breaches.

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