Sri Lanka gets loans for electric projects

COLOMBO, Sri Lanka, April 16 (UPI) -- Sri Lanka's government will get a $155 million loan from the Asian Development Bank to help improve and expand its electricity services.

The work will focus mainly on electric services to the poor and those in areas of conflict, the Asian Development Bank said.

The loan was approved by the board of directors to support energy efficiency, develop renewable energy and increase connections to rural areas.

Because of fast-growing demand, about 20 percent of homes still do not have access to electricity.

The loan will help the government meet the goals it set in its 10-year development plan. The goals include modernizing and upgrading the nation's transmission system, creating a demand-side management program for public lighting, adding 200 megawatts of hydroelectric power to the national grid and encouraging private investment.

It is estimated that the loan will allow the government to connect at least 60,000 more households to the electric grid.