The Asian Development Bank (ADB) has agreed to provide a $30 million loan to Sri Lanka to support large-scale renewable energy projects, including the Moragolla hydroelectric project.
The funding, sourced from ADB’s general capital resources, will be disbursed under small cost financing facilities, the Government said.
The loan will be used to complete construction and post-construction activities for the Moragolla hydroelectric project, as well as to implement additional renewable energy initiatives.
The funds will be allocated directly to the Ceylon Electricity Board in two instalments, the Government said.
The Cabinet of Ministers had approved the proposal presented by the President in his capacity as Minister of Power and Energy. (Newswire)
