The Government recently approved an ADB funded project to improve electricity services and support renewable energy. The ADB will provide a loan of US$ 164 million while counterpart funds from the Government of Sri Lanka would be an equivalent of US$ 24 million , LBO reported.

Improvements will be made to power transmission and distribution networks of the Ceylon Electricity Board and Lanka Electricity Company.

The Sri Lankan government said the Cabinet has approved a foreign aid funded project to expand and improve electricity services, especially to the poor, and support renewable energy.

Media minister Anura Yapa said the Asian Development Bank is giving a loan of 164 million dollars for the project with the government to put in funds equivalent to 24 million dollars.

The ADB aid consists of loans of 135 million dollars from its Ordinary Capital Resources and 25 million dollars from its concessional Asian Development Fund for Sri Lanka’s Clean Energy and Access Improvement Project.

It includes a grant of 2.2 million dollars from ADB’s Climate Change Fund, Yapa told a news conference to brief the media on Cabinet decisions.