Press briefing of Cabinet Decision taken on 2019-02-26

Obtaining the Indian Credit Line facility for the Solar Power Projects

- The Government has decided to support the International Solar Alliance assisted by the Government of India and the Government of France in line with the priority given by Sri Lanka in regard to the solar power development. Sri Lanka obtained its membership in the founding conference of the International Solar Alliance held in March 2018 where the signing of the Framework Agreement of the International Solar Alliance also took place. In order to mark the occasion of the signing of the Framework Agreement of the International Solar Alliance, the Government of India has pledged a credit line facility of US$ 100 million to support the Solar Power Development Programme in Sri Lanka. Accordingly, the proposal made by Hon. Ravi Karunanayake, the Minister of Power, Energy and Business Development, to obtain a credit facility of Rs.100 million from the EXIM Bank of India, was approved by the Cabinet.