COLOMBO, Oct. 22 (Xinhua) -- Sri Lanka's cabinet has approved a proposal to secure a 30 million U.S. dollar loan from the Asian Development Bank (ADB) to complete Moragolla hydropower project, a spokesperson said on Tuesday.
Speaking at a press conference, cabinet spokesperson Vijitha Herath said the state-owned electricity producer, Ceylon Electricity Board (CEB), will receive the loan in two installments.
The construction of the plant, managed by the CEB, began in 2018 and was funded by a loan from the ADB. In 2017, the ADB provided a loan of 113.86 million dollars to support the project.
The project is one of several hydropower projects to reduce fossil-fueled power generation. ■