Sri Lanka to get two $900M financial aid packages from India

Colombo, Jan 2 (Prensa Latina) Two finacial aid packages from India amounting $900 million are set to be handed over to Sri Lanka this month, a news report said.

January 2, 2022
16:08

The Sunday Morning newspaper, quoting Indian government sources, said that a $400 million swap facility and a $500 million credit line for fuel would both reach Sri Lanka this month.

One of the packages is set to be delivered to Sri Lanka´s coffers by January 10, and in total India will release three requests for financial assistance presented by the Government of Sri Lanka.

The $1 billion facility requested by Sri Lanka for food and medicine purchases will take more time due to the documentation process, the newspaper reported.

In this context, Finance Minister Basil Rajapaksa is to make his second official visit to India starting on January 10.

Sri Lanka’s low foreign reserves last week received a boost with the receipt of a Yuan 10 billion (equivalent to $1.5 billion) facility that was signed last March.

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