SriLanka, July 14 -- The Cabinet of Ministers has approved agreements to obtain a US$35 million concessional loan from the Asian Development Bank (ADB) along with additional grants to implement the "Grid-Based Rooftop Solar Power and Virtual Net Meter Reading" project.



The project has been identified as a priority initiative aimed at improving the effective use and distribution of solar energy while supporting independent power producers and expanding small- and medium-scale renewable energy projects, according to a statement issued by the Department of Government Information.



The government had earlier approved proposals to negotiate with the ADB and other relevant parties regarding project financing.



Following discussions wi...