USD 1 bn term loan from India for essential commodities and of USD 500 mn for fuel purchase

[view original post]

COLOMBO (News 1st); India’s External Affairs Minister Dr. S. Jaishankar has reaffirmed that India will be a steadfast and reliable partner of Sri Lanka, during a virtual meeting with Finance Minister Basil Rajapaksa.

In a series of tweets, the Indian Minister said “We positively noted the extension of the USD 400 million swap facility and the deferred ACU settlement of USD 515.2 million.”

“Discussed the early realization of USD 1 billion term loan facility for essential commodities and of USD 500 million LoC for fuel purchase,” he added.

He also assured that India will take up with other international partners initiatives to support Sri Lanka at this important juncture.

“Welcomed the progress on Trincomalee Tank Farm which will contribute to energy security,” he tweeted.

According to Dr. Jaishankar, projects and investment plans by India that would strengthen Sri Lankan economy were considered at the meeting.

He also urged for the early release of Indian fishermen in Sri Lankan custody as a humanitarian gesture.

Latest News