- The requirement of electricity in Sri Lanka is growing at an average rate of 5% to 7% annually during the last decade and this trend persists with the economic development of the country. Therefore, while taking measures to increase the electricity generation, it is also necessary to strengthen electricity transmission and distribution network for mitigating the system losses in order to obtain quality and uninterrupted electricity supply for all people in the country. Accordingly, the above project is expected to be implemented and the Government of Japan has agreed to provide a loan for this purpose, amounting to Japanese Yen 24,930 million (approximately Rs.26,873 million) through the Japan International Cooperation Agency (JICA). The proposal made by the Prime Minister, Hon. Ranil Wickremasinghe, in his capacity as the Minister of Policy Planning, Economic Affairs, Child, Youth and Cultural Affairs, to sign the Exchange of Notes with the Government of Japan and to enter into a loan agreement between the Government of Sri Lanka and JICA for this project, was approved by the Cabinet.