Sri Lanka’s Green Power Development and Energy Efficiency Improvement Investment Program will be receiving French loan facility as its second tranche towards this end.
French Agency for Development (AFD), France’s inclusive public development bank will provide a Euro 30 million loan to finance part of the total project cost. The balance will be borne by the Ceylon Electricity Board, the Ministry of Financey announced.
Dr. R H S Samaratunga, Secretary of the Ministry of Finance and Mass and Martin Parent, Country Director of AFD Sri Lanka Resident Mission , signed a Credit Facility Agreement on Wednesday (17), in Colombo.
Total cost of this project is estimated at USD 260 million. Asian Development Bank has already provided USD 150 million loan to finance a part of the project.
AFD has already provided financing to the tune of Euro 22 million for the implementation of Tranche 1 of the programme.
The tranche 2 of the Green Power Development and Energy Efficiency Improvement Investment Program will also include three major components;
It included transmission infrastructure enhancement; (ii) Efficiency improvement of medium voltage network and (iii) demand side management improvement for energy efficiency through development of a smart grid and metering pilot subproject.
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