IMF, World Bank, CEB discuss Balance Sheet restructuring

COLOMBO (News 1st); The IMF, World Bank & CEB held an online meeting on restructuring the balance sheets of the Ceylon Electricity Board. 

"As per the commitment to the IMF program to introduce a plan to restructure the balance sheets of CEB by end of June 2023, the World Bank experts will work with CEB & IMF to provide advice & options available to restructure the existing project loans, payments due to CPC, Renewable Developers, IPPs & other suppliers, working capital loans obtained from state banks, other loans obtained, recovery of losses for 2023 & the business plans of CEB," tweeted Minister of Power and Energy Kanchana Wijesekera.

He said that with the options made available, the Ministry will submit the strategy to restructure the balance sheets of CEB to the Cabinet of Ministers for approval.