India News | SBI to Provide USD 1 Bn Credit Line to Sri Lanka for Procurement of Food, Other Essentials
Get latest articles and stories on India at LatestLY. The finance ministry on Thursday said State Bank of India (SBI) will provide USD 1 billion credit facility to Sri Lanka for procurement of food, medicines and other essential items.
New Delhi, Mar 17 (PTI) The finance ministry on Thursday said State Bank of India (SBI) will provide USD 1 billion credit facility to Sri Lanka for procurement of food, medicines and other essential items.
The ministry in a tweet said Finance Minister Nirmala Sitharaman and External Affairs Minister S Jaishankar met Sri Lankan Finance Minister Basil Rajapaksa here.
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The ministers discussed wide ranging issues, it added.
"Agreement was signed between SBI and Government of Sri Lanka for USD 1 billion credit facility for procurement of food, medicine and other essential items to Sri Lanka," the ministry said in another tweet.
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Earlier, the Export-Import Bank of India (Exim Bank) had extended a line of credit of USD 500 million for financing the purchase of petroleum products to Sri Lanka which is facing a financial crisis.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)