Sri Lanka : Power Sector Reforms and Financial Sustainability Program (Subprogram I) (ADB-56332-001)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Sri Lanka
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Government of Sri Lanka
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Government Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Apr 3, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the ADB, the proposed programmatic approach and policy-based loan (PBL) for the Power Sector Reforms and Financial aims to consolidate the electricity industry reforms implemented under the Electricity Act 2009 by unbundling Ceylon Electricity Board (CEB) into wholly-owned corporate entities for generation, transmission and distribution of electricity, implementation of fully cost reflective tariffs, facilitate an enabling environment for market liberalization, and strengthen renewable energy investment activities in the country.
The program outputs contribute to ADB's Strategy 2030 operational priorities by Strengthening Governance and Institutional Capacity and enhancing environmental sustainability. The program is also consistent with ADB's country partnership strategy pillars 1 and 2, and three thematic pillars .

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The ADB categorized the project risk as follows:

Environment B
Involuntary Resettlement C
Indigenous Peoples C
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

ADB Team Leaders:

Jaimes Kolantharaj - Senior Energy Specialist

Sajid Raza - Senior Financial Management Specialist

No contacts provided at the time of disclosure.

Executing Agency - Ministry of Finance, Economic Stabilization and National Policies:

Address: The Secretariat, Colombo 01, Sri Lanka
Phone: +94 112 484 500 / +94 112 484 600 / +94 112 484 700
Fax: +94 112 449 823
Email: info@mo.treasury.gov.lk
Website: https://www.treasury.gov.lk/web/ministry-of-finance/section/ministry-of-finance

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.

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