Sri Lanka to receive credit facilities from USAID for renewable energy generation projects
Sri Lanka could receive credit facilities from the United States Agency for International Development (USAID) for renewable energy projects in the country, according to US Ambassador Julie Chung.
The President’s Media Division (PMD) has stated that the US Ambassador had made these remarks when she called on Sri Lanka’s President Gotabaya Rajapaksa at the Presidential Secretariat in Colombo recently.
According to the PMD, the Ambassador had commended the assistance given by the Government of Sri Lanka during the recent visit of US State Department Under Secretary for Political Affairs Victoria Nuland to Sri Lanka.
President Rajapaksa had explained the economic challenges faced by Sri Lanka saying that he was looking forward to the support of the US in reaching out to the International Monetary Fund (IMF).
Chung, while commeding the Government’s decision to seek the IMF’s support, had said it was important for the future of Sri Lanka.
The PMD news release has further stated that President Rajapaksa had noted that steps will be taken to provide relief to low-income earners, irrespective of any economic reforms.
Secretary to the President Gamini Senarath, Principal Advisor to the President Lalith Weeratunga, Deputy Chief of Mission of the US Embassy in Colombo Martin Kelly, and Chief Political/Economic Officer Susan Walke were also present at the meeting.
OSL take:
Sri Lanka’s increasing power demand and the ongoing power crisis has opened up many business/investment opportunities in Sri Lanka’s power sector, especially in the renewable energy generation sector. The government of Sri Lanka has also adopted a policy of increasing renewable energy generation in the country to 70% by 2030. All these have expanded opportunities for renewable energy generation in Sri Lanka. Many foreign investors have already signed agreements with Sri Lanka to set up renewable energy generation plants in the country.
| Article Code : | VBS/AT/0804/2022/Z_2 |