💡 US$ 30 Million IFC Loan Approved for Sustainable Energy

• Cabinet has approved a US$ 30 Million loan from the International Finance Corporation (IFC) of the World Bank Group. • The financing is dedicated to the "Secure, Bearable and Sustainable Energy Project." • Key objectives include advancing Sri Lanka’s energy security and accelerating the clean power transition. • Funds will be channeled to the Ceylon Electricity Board (CEB) or its affiliated entities as a sub-loan for project implementation. • The funding is expected to support crucial improvements in power system reliability, affordability, and sustainability. • Loan term negotiations with the IFC are currently underway, ensuring compliance with prudent Public Debt Management Office recommendations.