Minister of Finance Basil Rajapaksa has returned to Sri Lanka following his official visit to India.
Minister Basil Rajapaksa’s wife and Secretary to the Ministry of Finance SR Attygalle were also part of the visit.
The Finance Minister held discussions with several parties including Indian Prime Minister Narendra Modi and Indian Minister of External Affairs S Jaishankar during his stay.
Sri Lanka signed a USD 1 billion credit line with India in New Delhi.
The USD 1 billion loan will be used to obtain essential items including fuel, food and medicine.
During talks with Prime Minister Narendra Modi the two parties discussed bilateral matters and further Indian assistance to Sri Lanka.
Speaking to media upon arrival Minister Rajapaksa said India has always been a close friend of Sri Lanka.
The Minister said Premier Modi vowed to provide all support to Sri Lanka specially, and economically.
He added the Indian Premier commended the President’s efforts to move towards organic fertiliser and renewable energy adding that the Premier also vowed to provide nano liquid fertiliser to Sri Lanka despite an existing shortage in manufacturing in India.
The Finance Minister also stated that the USD 1 billion loan is effective from yesterday, while the Ministry of Trade has been informed to provide goods to the public at affordable rates.
The Minister also claimed that the loan facility entails basic conditions similar to when obtaining a loan adding that repayment of the loan will commence after three years.
The Minister claimed the government will pay back debt in due course adding that the President is working according to a long term plan.