Sri Lanka inks US$1 billion credit agreement with State Bank of India

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Sri Lanka will be getting the much awaited US$1 billion credit facility following the signing of the agreement with the State Bank of India on Thursday to purchase food, medicine and other essentials easing the foreign exchange crisis for the time being, Finance Ministry sources said.

This was the result of the 2-day official visit to India by Finance Minister Basil Rajapaksa and Treasury Secretary Sajith Attygalle.

Finance Rajapaksa has met Prime Minister Narendra Modi and External Affairs Minister S. Jaishankar during the visit. “India stands with Sri Lanka,” Minister Jaishankar said in a twitter message a short while ago.

Finance Minister Rajapaksa, who first announced the Indian credit line in February, signed an agreement for it to pay for essential commodities including medicine, wheat flour, sugar and rice. (Bandula)

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