India offers $500 million credit line to Sri Lanka for fuel purchase

India has offered a new Line of Credit (LOC) of USD 500 million to Sri Lanka for purchase of petroleum products. 

India’s External Affairs Minister Dr. S. Jaishankar extended this critical support in his letter addressed to the Foreign Minister of Sri Lanka, Prof. G.L. Peiris, the Indian High Commission in Colombo said today.

“It would be recalled that in a landmark development, External Affairs Minister Dr. S. Jaishankar and Sri Lanka’s Minister of Finance, Mr. Basil Rajapaksa held a detailed virtual meeting on January 15, 2022 and discussed various aspects of robust economic partnership between India and Sri Lanka.” 

–Ada Derana

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