Sri Lanka today signed an agreement with India today to extend the USD 1 billion credit line to import essentials for a period of one year.

The Amendment Agreement was signed today (May 30) in the presence of the State Minister of Finance – Shehan Semasinghe, senior officials from the Ministry of Finance of Sri Lanka and officials from High Commission of India, Colombo. Officials from the State Bank of India joined the event from India virtually.

Tweeting, the STate minister said, “The initial agreement was signed in 2022 March & out of the 1000 million US dollars allocated materials were imported for $ 576.75 mil. The agreement is extended for the remaining $ 423.25 mil. We will prioritize the import of essential medicines till March 2024.”