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US$100mn Indian soft loan for Sri Lankan solar power projects

ECONOMYNEXT – India has announced it will give Sri Lankan US$ 100 million concessional financing for solar power projects.

Half the money is for development of 200, 000 rooftop solar units for low income families and the rest for setting up of rooftop solar in Government schools and colleges, hospitals and other Government establishments.

The loan was announced during the visit of President Maithripala Sirisena to New Delhi from 10-11 March 2018 to attend the Founding Conference of the International Solar Alliance.

Solar projects worth nearly US$ 1.4 billion in 15 countries were announced at the conference under Government of India concessional financing.

(COLOMBO, March 13, 2018)

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