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WB grants additional funds to develop local power sector

09 January, 2008 02:09:31 Editor
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The World Bank has granted an additional sum of 4.4 Billion Rupees for enhancement of regenerative sources of power in Sri Lanka, taking in to consideration of the existing power generation projects. The funds are to be utilized for the development of solar and hydro electricity generation projects in rural remote areas. Around 60,000 homes will receive direct electricity facilities under the program.  The World Bank aid comes in the form of a loan without interest, and a grace period of 20 years to pay back.  An agreement in this regard was signed between the Sri Lankan Government and the World Bank took place at the Finance Ministry on Wednesday morning .    
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