Sri Lanka and World Bank Discuss Reforms and Assistance for Power Sector Development

In a recent meeting between Sri Lanka’s Minister of Power and Energy, Kanchana Wijesekera, and the Executive Director at the World Bank Group representing Bangladesh, Bhutan, India, and Sri Lanka, Parameswaran Iyer, significant progress made in the reform of Sri Lanka’s power sector was discussed. The meeting, held on May 16, also touched upon policy loans, assistance for renewable energy, and infrastructure development, among other future plans.

The meeting was attended by World Bank Country Director Faris Hadad and International Finance Corporation (IFC) Country Manager Alejandro Alvarez de la Campa, highlighting the collaborative efforts of various stakeholders in supporting Sri Lanka’s power sector reforms.

During the discussions, Minister Wijesekera expressed gratitude to the World Bank team for their invaluable assistance in the ongoing reforms of the Ceylon Electricity Board (CEB). The team’s support extended to offshore wind studies, the India-Sri Lanka grid connectivity project, and the implementation of feeding tariffs.

The discussions emphasized the importance of sustainable energy sources and the need for increased investment in renewable energy in Sri Lanka. The World Bank reiterated its commitment to provide policy loans and assistance for the development of renewable energy infrastructure in the country. These efforts align with Sri Lanka’s vision to enhance energy efficiency, reduce reliance on fossil fuels, and promote a greener and more sustainable power sector.

The meeting served as a platform for fruitful exchanges on strategies and initiatives that will contribute to the modernization and growth of Sri Lanka’s power sector. It demonstrated the country’s commitment to collaborate with international partners, leveraging their expertise and resources to achieve its energy goals.

As Sri Lanka continues to pursue reforms and explore renewable energy options, support from the World Bank and its associated organizations will play a pivotal role in driving sustainable development and ensuring reliable and affordable electricity for all Sri Lankans.