The Asian Development Bank (ADB) has approved a $30 million loan to Sri Lanka to support large-scale renewable energy initiatives, including the Moragolla hydroelectric project.

The funding, drawn from ADB’s general capital resources, will be disbursed through small cost financing facilities. It aims to complete construction and post-construction activities for the Moragolla project and support additional renewable energy efforts.

The Ceylon Electricity Board will receive the funds in two instalments, following approval from the Cabinet of Ministers on a proposal presented by the President, who also serves as Minister of Power and Energy.