India approve line of credit for Sri Lanka to help pay for key import
Govt of India has approved $ 1 billion line of credit (LoC) for Sri Lanka to help the Island nation for importing food, essential items and medicine. Sri Lanka is currently facing a severe economic crisis.
LoC is being extended by India in line with its efforts to assist its neighbouring country in fight against the COVID-19 pandemic, and to mitigate its adverse impact and its developmental priorities.
Sri Lankan Finance Minister: Basil Rajapaksa.
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