Sri Lanka has signed a USD 1 billion credit line with India in New Delhi this afternoon.
The agreement was signed by the Deputy General Manager of the State Bank of India on behalf of the government of India and the Secretary to the Ministry of Finance SR Attygalle on behalf of Sri Lanka.
The agreement was signed during Minister of Finance Basil Rajapaksa’s official two-day visit to India.
The USD 1 billion loan will be used to obtain essential items including fuel, food and medicine.
Prior to the signing of the agreement, the Finance Minister held discussions with several parties including Indian Prime Minister Narendra Modi and Indian Minister of External Affairs S Jaishankar yesterday.