INSUBCONTINENT EXCLUSIVE:
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.
