MONETABRIEF – Sri Lanka's cabinet has approved entering into loan and grant agreements of 55.9 million dollars to help expand rooftop solar using virtual net metering, according to spokesman Nalinda Jayatissa.
Virtual net metering allows owners of buildings without roofs suitable for laying solar panels (apartment dwellers or others without strong or large enough roofs) to buy solar credit from an aggregated solar project elsewhere.
The Asian Development Bank would provide 35 million dollars as a concessional loan, the European Union would provide 15.4 million dollars as grant. the Japan Fund for the Joint Crediting Mechanism would give 5.5 million as a grants.
The funds would come through the Asian Development Bank. (Colombo/July15/2026)