Sri Lanka Seeks More Money for JICA Power Project

Sri Lanka is in talks with the Japan International Cooperation Agency for a second loan to support the completion of a water power plant located in the Upper Kotmale region, Colombo Page reports. The project is currently underway under a 33.265 billion Japanese yen (USD367 million) loan approved by JICA in 2002. Sri Lanka is now seeking an additional loan of 4.522 billion Japanese yen to cover price escalations and pay overruns incurred over the implementation of the project.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.