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Sri Lanka NDB mulls renewable energy project funding

Mar 26, 2012 (LBO) - National Development Bank said it is considering funding projects to generate energy from bio-mass, waste and solar having given loans to support hydro and wind power plants.
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They were among several key sectors identified by NDB's project finance division for lending to support economic growth in post-war Sri Lanka, a statement said.

"We are committed to promoting key sectors of the economy that are considered of strategic importance to the overall socio-economic development objectives of the country, said Russell de Mel, chief executive of NDB.

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NDB has over the years funded projects in sectors such as energy, plantation, telecommunication, tourism, chemicals, and plastics and rubber-based industries.

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"Reliable and uninterrupted power supply is a prerequisite for the development drive and rapid economic growth," it said.

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"Renewable sources play an important role in energy generation in the back drop of escalating fossil fuel prices used in thermal power generation."

NDB as a development financier has so far funded 24 hydro power projects with a total capacity of 73 MW by providing loans to the value of over 2.5 billion rupees.

The b

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