The Government of Sri Lanka had discussions with the Asian Development Bank (ADB) to mobilize three policy-based loans (PBL) amounting to USD 300 million to implement the Power Sector Reforms and Financial Sustainability Program.

The relevant Power Sector Reforms and Financial Sustainability Program, consists of three subprograms and a loan of USD 100 million will be mobilized once the policy actions relevant for each of the subprograms are completed, according to the ADB.

The Program will support the establishment of independent and financially sustainable electricity utilities. Also, it will support streamlined and accelerated development of renewable energy sources for electricity generation under the reform areas.