France provides Euro 30 m for Sri Lanka Green Power Development

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Sri Lanka’s Green Power Development and Energy Efficiency Improvement Investment Program will be receiving significant French financial infusion as its second tranche towards this end.
The French Agency for Development (AFD), France’s inclusive public development bank, will provide Euro 30 million loan to finance a part of the total project cost and the balance will be borne by the Ceylon Electricity Board, Finance Ministry announced.
Dr. R.H.S. Samaratunga, Secretary of the Ministry of Finance and Mass and Martin Parent, Country Director of AFD Sri Lanka Resident Mission on behalf of AFD, signed a Credit Facility Agreement on Wednesday in Colombo.
Total cost of this project is estimated at US$ 260 million. Asian Development Bank has already provided $150 million loan to finance a part of the project.
AFD has already provided financing of Euro 22 million for the implementation of Tranche 1 of the Programme.
It is expected to implement the tranche 2 of the Green Power Development and Energy Efficiency Improvement Investment Program which will include three major components;
It is (i) Transmission infrastructure enhancement; (ii) Efficiency improvement of medium voltage network and (iii) demand side management improvement for energy efficiency through development of a smart grid and metering pilot subproject. (Bandula)

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