Sri Lanka president to fast track foreign-aid energy project approvals

Sri Lanka
By Editor_1
Sri Lanka's newly elected President Anura Kumara Dissanayake reads a document after being sworn in as president at the Presidential Secretariat, in Colombo, Sri Lanka, on Monday (September 23, 2024) - Sri Lanka President Media/Handout via REUTERS/File

COLOMBO – Sri Lanka President Anura Kumara Dissanayake has revealed plans to establish a panel to speed up the approval process of foreign-funded projects in the energy sector, the President’s Media Division (PMD) said.

Dissanayake’s announcement came when he met top officials at the Ministry of Power and Energy on Thursday (26).

In a statement issued on Thursday, the PMD said the president had also highlighted the importance of expediting projects financed by the Asian Development Bank and other foreign loans.

“He announced plans to establish a committee tasked with approving foreign-aid projects within three months, with the aim of accelerating their execution,” it said, quoting the president as saying that through the process, the projects supported by foreign aid can be implemented more efficiently.

During the meeting, the president also stressed the importance of maintaining fuel reserves to ensure uninterrupted fuel availability for the public and urged officials to efficiently plan for fuel procurement for the upcoming year.

“President Anura Kumara Dissanayake underscored the urgency of accelerating rural development projects and swiftly implementing a system to ensure funds are directed to villages, noting that this approach would rapidly strengthen the rural economy,” the PMD statement said.

-economynext.com

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