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Sri Lanka Economic Crisis: India gives additional loan facility of $ 200 million to Sri Lanka for fuel purchase

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Sri Lanka Economic Crisis: Once again extending a helping hand to Sri Lanka, which is facing severe financial crisis, India has given it another $ 200 million line of credit for fuel purchase. Sri Lanka’s Minister of Power and Energy Kanchan Vijayasekhar said that India has already extended an additional line of credit of $ 200 million, adding, “This loan facility will be used for four consignments of fuel in May.”

India has already given a loan facility of $ 500 million
Along with this, he said that talks are going on about another $ 500 million loan facility with India but no final decision has been taken yet. Even before this, out of the $ 500 million loan facility from India, Sri Lanka has used $ 400 million for March and April fuel purchase, Vijayasekhar said that the remaining $ 100 million will also be used for two consignments of fuel in May. would be to buy,

economic crisis in sri lanka
Sri Lanka has not been able to buy fuel and other essential items due to shortage of foreign exchange for the last few months, in such a situation, India has continuously come forward to help it.

India is continuously helping Sri Lanka
The Indian High Commission in Colombo said the $400 million swap facility given to Sri Lanka in January is being extended, in addition to India agreeing to defer payment of $1.5 billion for imports from Sri Lanka. It is done. On the other hand, Vijayasekhar said that due to the rise in international crude oil prices, the expenditure on fuel imports is estimated to be around $ 58 million in May, compared to $ 200 million three months ago.

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