The Export-Import Bank of India (Exim Bank) has extended a line of credit (LoC) of USD 500 million to Sri Lanka on behalf of the Government of India on February 03, 2022. The fund will be used by the Island nation for the purchase of petroleum products.
With the signing of the LOC agreement for USD 500 million, Exim Bank, to date, has extended 10 lines of credit to the Sri Lankan government on behalf of the Indian government, taking the total value of LOCs extended to USD 2.18 billion
