adb bank
Asian Development Bank provides $150 million to Sri Lanka Electricity Board
Aruna Shantha
20-Dec-2024 00:31:10
The Asian Development Bank (ADB) has agreed to provide a loan of US$150 million to the Ceylon Electricity Board (CEB) for its upcoming investment projects. The agreement, signed on December 19, 2024, follows extensive due diligence by ADB, which assessed the technical, economic, and social viability of CEB's proposed investments.
The loan package, approved by ADB in November 2024, will support CEB’s efforts to enhance and expand Sri Lanka's electricity infrastructure. This collaboration underscores ADB’s commitment to bolstering the country's energy sector, ensuring sustainable growth and improved energy access for communities.
The agreement is expected to play a significant role in addressing the country's energy needs, reinforcing CEB’s capacity to meet increasing demand while maintaining efficient service delivery.
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