SL- Climate finance for renewables (WB-P151800)

  • Sri Lanka
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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."
  • Climate and Environment
  • Energy
  • Finance
  • Mining
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 12.00 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)
$ 12.00 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.
Primary Source

Original disclosure @ WB website

Updated in EWS Aug 2, 2017

Disclosed by Bank Mar 10, 2016

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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.
The proposed project will support GoSL’s efforts for the development of renewable energy to increase the share of NCRE in the energy mix to 20 percent by 2020. Given that Sri Lanka heavily relies on imported fossil fuels to meet the growing energy demand, diversifying energy generation away from imported fossil fuels is critical to accommodate fluctuations in international oil and coal markets to improve the country’s fiscal resilience. Renewable energy provides an opportunity for Sri Lanka to limit import dependence and vulnerability to fossil fuel price shocks, and move toward energy self-sufficiency. The proposed project will enhance Sri Lanka’s capacity to access international climate finance and improve fiscal resilience through the achievement of national NCRE targets. It will also assist GoSL in identifying and developing a long-term strategy to achieve green and climate resilient growth by facilitating low-carbon interventions across various different sectors.
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.
ACCOUNTABILITY MECHANISM OF WORLD BANK The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing You can learn more about the Inspection Panel and how to file a complaint at: CONTACTS World Bank Contact: Keisuke Iyadomi Title: Climate Change Specialist Tel: 473-9361 Email: Contact: Zhuo Cheng Title: Carbon Finance Specialist Tel: 5723+374 / 9 Email: Borrower/Client/Recipient Name: Ministry of Mahaweli Development and Environment Contact: Sunimal Jayathunga Title: Director Tel: 94-11-2865452 Email: Name: Ministry of Power and Renewable Energy Contact: M. S. Batagoda Title: Secretary Tel: 94112574922 Email: Implementing Agencies Name: Ceylon Electricity Board Contact: Chandrasiri Wickramasekara Title: General Manager Tel: 0112324471 Email: Name: The Sri Lanka Climate Fund (Private) Limited (SLCF) Contact: Buddika Hemashantha Title: Chief Executive Officer Tel: 94112078210 Email:

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How it works