Sri Lanka, India to ink agreement for USD 500 million credit line later today

The agreement for a credit line of USD 500 million from India for the purchase of petroleum products will be signed this evening, Ada Derana learns.

This credit line is expected to help resolve the country’s ongoing power crisis.

India’s External Affairs Minister Dr. S. Jaishankar had extended this critical support in a letter addressed to his Sri Lankan counterpart, Foreign Minister Prof. G.L. Peiris.

In a statement issued in this regard, the Indian High Commission in Colombo said: “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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