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| Thursday, 14 October 2004 |
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The Swedish Government has provided an interest free loan of US$ 20 million (around Rs. 2 billion) for rural electrification in Sri Lanka. The loan is provided through the AB Svensk Exportkredit of Sweden and it is repayable in 13 years inclusive of a grace period of six years. The proceeds of this loan will be used to supply electricity to 43,550 households in about 268 villages of all parts of the country and enhance the opportunity to provide electricity to small and medium industries. The project will establish 268 substations and extend 402 km of medium voltage lines and 1454 km of low voltage distribution lines. The project will be implemented by the Ceylon Electricity Board and planned to be completed by mid 2007. The Secretary to Ministry of Finance and Planning Dr. P.B. Jayasundera signed the agreement on behalf of the Government of Sri Lanka and Charge'd Affaires of the Embassy of Sweden Ms. Ann-Marie Falleniurs signed the agreement on behalf of the Government of Sweden. Director General of the External Resources Department Mrs. Sujatha Cooray, was also present. |
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