Agreement signed to extend India’s $1bn credit line for Sri Lanka
Posted on May 30th, 2023

Courtesy Adaderana

The signing of the agreement to extend the USD$ 1,000 million assistance scheme from India for the import of essential materials for a further period of one year has been carried out today (May 30), says Minister of Finance Shehan Semasinghe.

In a Twitter message, Minister Semasinghe has mentioned that the officials of the State Bank of India had participated in the event virtually.

The initial agreement was signed in 2022 March, the minister mentioned, adding that out of the 1,000 million US dollars allocated materials were imported for $ 576.75 million.

Accordingly, the agreement has been extended for the remaining $ 423.25 million, he mentioned.

Furthermore, the Finance Minister also stressed that the import of essential medicines will be prioritized until March 2024.

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