AIIB and Sri Lanka Sign $52 Million Loan for Kerawalapitiya Transmission Project

The Asian Infrastructure Investment Bank (AIIB) and the Government of Sri Lanka have signed a $52 million sovereign-backed loan agreement for the Kerawalapitiya–Port L Second Transmission Line Project. This project will install a 220 kV underground cable linking Kerawalapitiya Switching Station to Colombo Port L Grid Substation, complementing the first line commissioned in 2019. The new transmission line aims to meet the rising electricity demand in Greater Colombo, ensuring uninterrupted power supply, grid stability and efficient evacuation of renewable energy from northern and eastern regions. It will support urban services, communities, businesses, and the upcoming special economic zone. This project is part of AIIB’s ongoing support for Sri Lanka’s sustainable development, totaling $534 million across energy, transport and urban sectors.

Source: https://www.themorning.lk/articles/IPn8HnDUqN1001gCEEF7