Sri Lanka to get $200mn for wind power from ADB

ECONOMYNEXT – The Asian Development Bank (ADB) has allocated 200 million US dollars in lending to Sri Lanka in 2018 to support wind power generation, including possible  public–private partnerships, under the government’s renewable energy program.

The allocation was made in an update to the ADB’s Country Partnership Strategy aimed at strengthening efforts to improve Sri Lanka’s economic competitiveness through environmentally sustainable growth.

The 200 million dollars will be made available under the bank’s market-based ordinary capital resources, raised by issuing debt securities in the international and domestic capital markets, made usually to countries that have attained a higher level of economic development.

“The Wind Power Generation Project is proposed to develop renewable energy potential and ensure energy security,” the ADB said. “The use of a public–private partnership approach will be explored for the project.”

It aims to support government objectives of sustainable development of energy resources and delivery systems to enable access to energy services by the entire population.  (Colombo/August 28 2015)

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