India to loan SL US$ 900M

CEYLON TODAY | Published: 2:00 AM Jan 15 2022
News India to loan SL US$ 900M

India announced a US$ 900 million loan to Sri Lanka to build up foreign reserves and for food imports, following Sri Lanka’s immediate requirement. 

Accordingly, a US$ 400 million currency SWAP granted by India is among one of the four pillars of bilateral economic cooperation identified during Finance Minister Basil Rajapaksa’s visit to India in December 2021 and a due sum of more than US$ 500 million has been deferred under the Asian Clearing Union Settlement framework.

India’s External Affairs Minister Dr. S. Jaishankar tweeted that India will support Sri Lanka during these difficult times after the phone call with Foreign Minister Prof. G.L. Peiris on 6 January 2022. It is said that other pillars of support worked out during Rajapaksa’s visit are under progress.

CEYLON TODAY | Published: 2:00 AM Jan 15 2022

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