The Asian Development Bank (ADB) and the Government of Sri Lanka signed a loan agreement for US$100 million on Monday (5 August 2024) for subprogram 1 of a policy-based loan (PBL) to support and facilitate reforms aimed at enhancing the financial sustainability of the power sector in Sri Lanka. This loan is part of a broader programmatic approach PBL, consisting of three subprograms totaling US$300 million, dedicated to transforming the power sector.
Mr. Mahinda Siriwardana, Secretary to the Treasury signed on behalf of the Government of Sri Lanka and Mr. Takafumi Kadono, Country Director, ADB, Sri Lanka Resident Mission signed on behalf of ADB.
For more details on the project loan please refer to the News Release which was issued on 11 July 2024 at the time of ADB board approval.