World Bank, IMF, Sri Lanka discuss restructuring balance sheets of CEB

31 May, 2023

The World Bank, the International Monetary Fund (IMF), and the Ministry of Power and Energy in Sri Lanka had talks on restructuring the balance sheets of the Ceylon Electricity Board (CEB).

Power and Energy Minister Kanchana Wijesekera said that World Bank experts will work with the CEB and the IMF to provide advice and options to restructure the existing project loans.

Payments due to the Ceylon Petroleum Corporation (CPC), Renewable Developers, IPPs and other suppliers, working capital loans obtained from state banks, other loans obtained, recovery of losses for 2023 and the business plan of the CEB will also be discussed.

The Minister said that with the options made available, the Ministry will submit the strategy to restructure the balance sheets of the CEB to the Cabinet of Ministers for approval. (Colombo Gazette)

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