Wednesday, July 17, 2024
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Sri Lanka enters agreement for US$01 billion debt facility from India

The agreement providing a debt facility of US$01 billion was signed between Sri Lanka and India today (17). The agreement was signed by the Deputy General Manager of the State Bank of India on behalf of the Government of India and Secretary to the Finance Ministry of Sri Lanka, S.R. Attygalle.

Sri Lankan Finance Minister Basil Rajapaksa together with a group of Sri Lankan delegates left for India for the final discussions regarding the debt facility yesterday and Indian Prime Minister Narendra Modi held talks with several senior government officials, including the Foreign Minister.

The US$01 billion debt facility will be used to purchase essential food items for the next few months, and accordingly, essential items, including wheat flour, sugar and rice, will be purchased from India.

MIAP

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