World Bank assistance for 24/7 low-cost power | Daily News

World Bank assistance for 24/7 low-cost power

Minister Ravi Karunanayake with the World Bank team  on Friday.
Minister Ravi Karunanayake with the World Bank team on Friday.

The World Bank said it will consider providing funding and technological assistance to Sri Lanka to transform it into country supplying round-the-clock electricity at the cheapest rate in the region.

This assurance was given by a visiting World Bank team which met Power, Energy and Business Development Minister Ravi Karunanayake at his Ministry on Friday.

The World Bank team which lauded Sri Lanka as regards its electricity sector, observed that the country seemed to be moving into a strategy of dependence on other countries by switching to expensive energy sources. Minister Karunanayake explained that the country had been forced to depend on expensive energy sources to satisfy the daily increasing demand since its water resources had reached the optimum generation level.

However the Ministry was in the process of formulating policies to switch to environment-friendly renewable energy sources to lower electricity tariffs to the lowest possible level, he said.

The World Bank team said they could also hold awareness programmes and consultancy services as well as training programmes for the benefit of people engaged in the local power and energy sector. 


 

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