Sri Lanka-India Finance Ministers To Meet; Talks On $1 Billion Loan

Thursday, 17 March 2022newsdesk

Sri Lanka's Finance Minister Basil Rajapaksha is expected to meet his Indian counterpart Nirmala Sitharaman this week to discuss USD 1 billion loan that the Indian government agreed to provide and will also share the road map on the utilisation of funds.

New Delhi, 17 March 2022

As per news report of NDTV, India has already given a loan of USD 500 million for fuel purchase and USD 400 million currency swap under the South Asian Association for Regional Cooperation (SAARC) facility, Policy Research Group reported. Earlier, the Sri Lankan Finance Minister met Prime Minister Narendra Modi and Foreign Minister S Jaishankar on Wednesday and thanked PM Modi for the support extended by India to the Sri Lankan economy. India has stepped up and pledged a whopping USD 2.415 billion to the island nation to help overcome dire financial constraints caused by external debt payments and a lack of US dollars in the country for business.

Source - NDTV