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Japan Loaned 1.25 Billion to Help Sri Lanka Develop Electric Power Transmission and Distribution

Number of visits: Date:6/25/2015 05:01:03

The Japanese government extended the granting of loans to Sri Lanka to 24.93 billion yen (about 1.25 billion yuan) for the development of Sri Lanka electric power transmission and distribution.

The loan agreement was signed by Japanese Foreign Minister Fumio Kishida and Sri Lankan Foreign Minister Mangala Samaraweera.

The project aimed to increase the stability of power supply by expanding and improving the efficiency of transmission and distribution lines to promote economic growth in Sri Lanka.

In this project, through the introduction of low-loss transmission and distribution lines and construction of new substations, the existing transmission and distribution systems would be upgraded.

Stable supply of low-cost electricity and improvement of the basic infrastructure are considered important factor in Sri Lanka power supply reliability and energy efficiency. On this point, in 2012, the Japanese government provided Colombo 16 billion yen (about 800 million yuan) for its large transmission impairments project, and provided technical support for the preparation of the overall planning of the power sector.

All the transmission and distribution projects under the Japanese yen loan scheme are in line with the development policy of the government of Sri Lanka, which can promote the development of society and economy, and is considered to be of national importance. Japan hopes that these projects will be able to consolidate the long-term bilateral cooperation and support Sri Lanka's comprehensive development, so as to improve the living standards of the people of Sri lanka.

TypeInfo: Industry news

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