Connect with us

News

ADB approves support for power sector reforms in SL

Published

on

The Asian Development Bank (ADB) today approved a $100 million policy-based loan to support and facilitate reforms aimed at enhancing the financial sustainability of the power sector in Sri Lanka.

The Power Sector Reforms and Financial Sustainability Program will complement the International Monetary Fund’s Extended Fund Facility arrangement and bolster the operational efficiency and competitiveness of country’s power sector. The program will help create a conducive environment for private investments, boosting renewable energy development, and modernizing power grids.

“Developing cost-competitive renewable energy and providing reliable and affordable electricity supply—with a transparent and independent power sector regulatory framework—will help Sri Lanka drive economic growth and address the current financial and economic crisis,” said ADB Principal Energy Specialist Jaimes Kolantharaj. “This program will support reforms in the power sector introduced under the Electricity Act, including institutional and regulatory reforms and improve operational sustainability of the electricity sector.

The program will also support the development of renewable energy to accelerate the country’s transition to clean energy as envisaged under Sri Lanka’s nationally determined contributions.”

The program will help the government undertake institutional reforms in the electricity sector by establishing independent companies with defined functions and support strengthening their corporate governance and financial sustainability. It will support regulatory reforms with the implementation of the new national tariff policy that will improve financial sustainability of the sector through cost-reflective tariffs.

To help accelerate investments in renewable energy, the program will assist multiple initiatives under the renewable energy expansion plans for 2023–2030. The key initiatives include implementing a periodic revision of feed-in tariffs for small power plants and rooftop solar users, facilitating integration of renewable energy projects into the national grid, and effective application of a competitive procurement framework for renewable energy projects. The program will support increased women’s participation in the power sector by developing policies to promote equitable participation of female customers, female entrepreneurs, and women and disadvantaged community groups.

ADB will provide an additional $1 million technical assistance grant from its Technical Assistance Special Fund to support program implementation, capacity building of electricity companies, the development of their business plans and overall power system development plans.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members – 49 from the region.

(News1st)

 (This story, originally published by News1st has not been edited by SLM staff)

News

Joe Biden diagnosed with aggressive prostate cancer

Published

on

By

Former US President Joe Biden, 82, has been diagnosed with prostate cancer that has spread to his bones, a statement from his office said on Sunday.

Biden, who left office in January, was diagnosed on Friday after he saw a doctor last week for urinary symptoms.

The cancer is a more aggressive form of the disease, characterised by a Gleason score of 9 out of 10. This means his illness is classified as “high-grade” and the cancer cells could spread quickly, according to Cancer Research UK.

Biden and his family are said to be reviewing treatment options. His office added that the cancer was hormone-sensitive, meaning it could likely be managed.

In Sunday’s statement, Biden’s office said: “Last week, President Joe Biden was seen for a new finding of a prostate nodule after experiencing increasing urinary symptoms.

“On Friday, he was diagnosed with prostate cancer, characterised by a Gleason score of 9 (Grade Group 5) with metastasis to the bone.

“While this represents a more aggressive form of the disease, the cancer appears to be hormone-sensitive which allows for effective management.”

After news broke of his diagnosis, the former president received support from both sides of the aisle.

President Donald Trump wrote on his social media platform Truth Social that he and First Lady Melania Trump were “saddened to hear about Joe Biden’s recent medical diagnosis”.

“We extend our warmest and best wishes to Jill and the family,” he said, referring to former First Lady Jill Biden. “We wish Joe a fast and successful recovery.”

Former Vice-President Kamala Harris, who served under Biden, wrote on X that she and her husband Doug Emhoff are keeping the Biden family in their prayers.

“Joe is a fighter – and I know he will face this challenge with the same strength, resilience, and optimism that have always defined his life and leadership,” Harris said.

In a post on X, Barack Obama – who served as president from 2009 to 2017 with Joe Biden as his deputy – said that he and his wife Michelle were “thinking of the entire Biden family”.

“Nobody has done more to find breakthrough treatments for cancer in all its forms than Joe, and I am certain he will fight this challenge with his trademark resolve and grace. We pray for a fast and full recovery,” Obama said. In 2016, Obama tasked Biden with leading a “cancer moonshot” government-wide research programme.

(BBC News)

Continue Reading

News

Special traffic plan during 16th War Heroes’ Commemoration today 

Published

on

By

The 16th National War Heroes’ commemoration ceremony will be held today (May 19) at the National War Hero Cenotaph in Sri Jayawardhanapura under the patronage of President Anura Kumara Dissanayake.

The commemoration event is scheduled to begin at 4.00 pm.

Parallel to the event, a special traffic plan will be implemented in and around the Battaramulla area, according to the Sri Lanka Police.

Authorities have emphasized that no road closures will be enforced.

However, in the event of traffic congestion, movement along Parliament Road – from Polduwa Junction to Kiyayam Junction via Jayanthipura – may be restricted for vehicles traveling to and from Colombo.

To minimize inconvenience, the police have issued the following alternative routes:

For vehicles exiting Colombo: Travel from Polduwa Junction to Battaramulla Junction, then proceed from Palam Thuna Junction to Kiyayam Junction.

For vehicles entering Colombo: Travel from Kiyayam Junction to Palam Thuna Junction, then proceed to Battaramulla Junction and continue to Colombo via Polduwa Junction.

Motorists are advised to follow police instructions and use the designated alternative routes to avoid delays during the commemorative events.

Continue Reading

News

Nalinda departs for Switzerland to attend WHO assembly

Published

on

By

Minister of Health and Mass Media Dr. Nalinda Jayatissa left for Switzerland yesterday (May 18) to attend the 78th World Health Assembly (WHA78) organized by the World Health Organization (WHO).  

The assembly will be held in Geneva, Switzerland from May 19 – 27 under the theme – “One World for Health”.

Health ministers from all WHO member states, along with over 5,000 delegates representing global health sectors, are expected to attend the assembly.

It’s reported that this will feature wide-ranging discussions with representatives from various countries, during which proposals, ideas, and research data will be reviewed to make key decisions and formulate plans to improve global health conditions in the coming year.

In addition to the Minister of Health, the Sri Lankan delegation to the WHA78 includes the Health Ministry Secretary – Dr. Anil Jasinghe, Sri Lanka’s Permanent Representative to the UN in Geneva – Himali Arunathilaka, and the mission’s First Secretary – Nishanthini Victor.

Continue Reading

Trending

Copyright © 2024 Sri Lanka Mirror. All Rights Reserved