Govt. to seek foreign funding for green bond

13 November 2021 12:59 am - 10 - {{hitsCtrl.values.hits}}

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The government plans to initiate talks with foreign parties to obtain green bond financing facilities to fund green ongoing projects, to meet the country’s climate commitments and to achieve the Sustainable Development Goals.
“I propose to encourage state as well as private sector banks to develop this type of financing facilities,” Finance Minister Basil Rajapakse said, delivering his maiden budget speech in Parliament yesterday.

He stressed that global collaboration is a must to find sustainable solutions to global issues such as climate change.

“These cannot be solved only through domestic measures. These require collaborations internationally. Local and international interventions are being looked at. We must also be a partner in these ventures,” he said.

In particular, he highlighted the prospects in renewable and clean energies for the country in building the envisaged green economy as well as future possibilities in exporting green hydrogen.

“The potential to generate electricity from renewable sources such as wind, ocean waves and solar exceeds Sri Lanka’s energy requirement. As such, Sri Lanka has the opportunity to produce and export green hydrogen from the surplus of renewable energy,” he added.

Further, he pointed out that electricity-fuelled renewable energies are required to reap the benefits of electric three-wheelers and motorcars. He noted that the government has been focusing on electric three-wheelers and motorcars, which could also reduce the country’s fuel import bill.

In the 2022 budget, it was proposed to allocate an additional Rs.500 million for the facilitation of encouraging private investment in the renewable energy sector, in order to fulfil 70 percent of the aggregate electricity demand through renewable energy by 2030.

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Comments - 10

Jude Saturday, 13 November 2021 10:17 AM

Huh !! Green Bond, put in your azz !! Yeah!!

Kikazaru Saturday, 13 November 2021 10:33 AM

The man is talking bullshit. What was your job before you became a minister in the last UPF government?

Kikuzaru Saturday, 13 November 2021 11:12 AM

Mid night cowboys!

Kikazaru Saturday, 13 November 2021 11:38 AM

Today, wind and solar are the cheapest compared to coal and oil. As such one can see how knowledgable this minister.

Farieze Saturday, 13 November 2021 11:47 AM

A US citizen is finance Minister for srilanka Big joke

A Saturday, 13 November 2021 12:08 PM

More % to family

Ranjit Wijesinha Saturday, 13 November 2021 12:08 PM

I hope the money doesn't go to pockets of cronies.

vince Saturday, 13 November 2021 01:31 PM

Another scam coming to you soon.

Laka Saturday, 13 November 2021 03:46 PM

Is it to put the country into more trouble . Enough is enough Go home and give the power to some one who can run it.

commis pappa Saturday, 13 November 2021 07:16 PM

has anyone heard about a 20% ' green commis'??

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Govt. to seek foreign funding for green bond

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