Sri Lanka Energy Program

Website

www.worldbank.org

Services

In app support

The World Bank Group is a global development institution that provides financing, policy advice, and technical assistance to developing countries around the world. In the critical sector of power systems and energy, the Group is dedicated to fostering sustainable, secure, and reliable energy access, particularly focusing on the transition towards cleaner energy sources. Its comprehensive approach involves a broad spectrum of initiatives, from funding essential infrastructure projects like large-scale solar and wind farms to implementing technical assistance programs aimed at modernizing electricity grids and reforming energy policies, ensuring a robust energy ecosystem.

A core objective for the World Bank Group is to diminish reliance on costly fossil fuel imports in developing nations, thereby accelerating the deployment of renewable energy technologies such as solar and wind. This is achieved by strategically mobilizing substantial public and private sector investments, often utilizing financial tools such as guarantees and direct investments to mitigate risks for private investors and independent power producers. Furthermore, the Group actively supports national utilities by strengthening their planning, procurement, and operational capabilities, while also advocating for government-led reforms to enhance competitiveness and regulatory oversight within the energy sector.

For example, through initiatives like the 'Secure, Affordable, and Sustainable Energy for Sri Lanka' program, the World Bank Group is committed to adding significant clean electricity generation capacity, targeting national goals for renewable energy penetration and system resilience. This multi-faceted engagement aims to ensure more stable electricity prices, reduce power outages, and improve overall energy access for households and businesses across various regions. By collaborating extensively with both public and private stakeholders, the World Bank Group strives to build resilient, market-based energy systems that underpin long-term economic growth and expand opportunities for communities globally.

Locations

• Colombo, Colombo