EIB to help Sri Lanka achieve Green energy targets

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COLOMBO – The European Investment Bank (EIB) has expressed interest in receiving proposals on Green projects for consideration of funding, and has agreed to help Sri Lanka achieving the proposed targets in the renewable energy sector.

EIB President, Dr. Werner Hoyer, expressed these sentiments during a recent meeting a team of senior EIB officials had with the Sri Lankan Ambassador to Belgium, the European Union and Luxembourg, Grace Asirwatham in Brussels.

The meeting, held on September 24, was a follow up to the meeting held between the Foreign Ministers of Sri Lanka and Luxembourg on January 31, 2020 in Colombo.

The discussion centred on the ongoing EIB activities in Sri Lanka and the possibilities of   developing cooperation between Sri Lanka and the EIB in the field of Green projects.

A statement from the Sri Lankan embassy in Brussels said the EIB head, impressed by the focus given on promoting Green projects in Sri Lanka, under the National Policy Framework ‘Vistas of prosperity and splendor’, specifically the  medium to long term objectives on environmentally friendly public Green transport, creation of eco-industrial zones to recycle industrial waste, development of Green building under the Green and smart cities, had expressed interest in receiving project proposals for consideration of funding.

Dr. Hoyer had also said the areas proposed for financial cooperation on developing the renewable energy sector, particularly wind and solar energy projects, were well within the scope of EIB and agreed to help Sri Lanka achieving the proposed targets in renewable energy sector.

The EIB president, the statement said, had also appreciated Sri Lanka’s commitment towards protection of environment, mitigation of climate change related issues and cooperation with UNFCC including sharing of details related to nationally determined targets, GHG emission reduction targets by 2030 and the progress being made to achieve SDGs.

The statement said Dr. Hoyer had advised Sri Lanka to continue the technical discussion with the vice president and senior officials of the EIB, with necessary project proposals to establish the envisaged financial cooperation in investment in Green projects.

The EIB team at the September 24 meeting included  senior EIB officials comprising Vice President Christian Kettel Thomsen, Director General/ Deputy Head of Operations Luca Lazzaroli, Head of Division Asia & Pacific, Public Sector Operations – Global Partners Department Edvardas Bumsteinas and Head of EIB Regional Representation for South Asia based in New Delhi, Donal Cannon.

-ENCL

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