Sri Lanka will secure a USD 30 million loan from the International Finance Corporation (IFC) of the World Bank Group to support the country’s Secure, Bearable and Sustainable Energy Project, following Cabinet approval of a proposal by President Anura Kumara Dissanayake in his capacity as minister of finance.
The financing agreement aims to assist energy sector reforms and promote sustainability initiatives.
According to the government, the loan facility will be extended to the Ceylon Electricity Board (CEB) or its affiliated entities as a sub-loan.
Negotiations with the IFC are in progress, and the project will be implemented under the financial regulations set by the Public Debt Management Office. (Newswire)