Govt. wants ADB’s $ 30 m. loan for CEB

The government has told the Asian Development Bank it wanted to renegotiate a US$ 30 million grant which the lending agency withdrew after moves to restructure the Ceylon Electricity Board did not materialize.

Power and Energy Minister John Seneviratne told The Sunday Times that fresh moves were underway to get back the grant as the CEB was in need of the money.

The ADB recently withdrew the grant offer after the government failed to get the CEB Reforms Bill passed in Parliament because of opposition from the JVP and trade unions which claimed some provisions in the bill would pave the way for the privatization of the CEB.

“The ADB has sent positive signals. We made the request but we are awaiting a formal response,” Minister Seneviratne said.