By Anjali Sharma
WASHINGTON – Sri Lanka government’s information department in a statement issued on Wednesday stated that the country’s cabinet approved a proposal to sign two agreements with the Asian Development Bank for strengthening its power system and integration of renewable energy projects.
President Anura Kumara Dissanayake submitted the proposal in his capacity as the Minister of Finance, Planning and Economic Development, news media reported cited details from the department.
The ADB has agreed to offer $200 million as two separate loans $150 million and $50 million to Ceylon Electricity Board and Lanka Electricity (Pvt) Ltd., under two agreements on treasury guarantee, according to the department.
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