Japan to fund Yen24.9bn upgrade of Sri Lanka power grid

COLOMBO (EconomyNext) – Jan will give a 24.93 billion yen (27.4bn rupee) loan to Sri Lanka to upgrade its power grid and reduce transmission and distribution losses, the Embassy of Japan said.

The National Transmission and Distribution Network Development project existing transmission and distribution will be upgraded with low-loss lines and new electricity substations will be built in the Greater Colombo, Central and Northern Provinces.

The loan was signed on June 19 in Tokyo during by Sri Lanka’s Foreign Minister Managala Smaraweera and Japan’s Foreign Minister Fumio Kishida.

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