Asian Development Bank (ADB) and Ceylon Electricity Board (CEB) signed a contract on Thursday for the ADB to offer a loan of $150 million to the CEB.ADB had actually authorized the loan package in November 2024 after strenuous due diligence on technical, financial and social benefits of CEBs upcoming financial investment proposals.Through these funds, a number of vital projects in CEBs long-term transmission strategy will be carried out over 2025-2027, which will improve the total dependability and stability of the grid, the CEB said.Transmission assets constructed through this loan will make it possible for the integration of planned massive renewable resource developments to the national grid, it said.Accordingly, the financing will support the building and construction of 6 brand-new grid substations, 87 km of 132 kV transmission lines, 45 km of 220 kV transmission lines and the augmentation of 2 existing grid substations.The CEB and its distribution subsidiary Lanka Electricity Company (LECO), serve over 7.5 million electrical energy customers, through CEBs transmission network comprising 3400 km of high voltage lines and 90 grid substations.The contract was signed by ADBs Country Director for Sri Lanka Takafumi Kadono and CEB General Manager Ronald Comester, in the existence of Finance Ministry Secretary Mahinda Siriwardena.