Colombo: India offers a new $ 500 million credit line to Sri Lanka to fund the purchase of fuel, the Indian High Commission in Colombo said on Tuesday, when the island struggled to manage the worst financial crisis for years.
Credit lanes, which are in negotiations since August 2021, will reduce pressure on the country’s embassy reserves which fell to $ 3.1 billion at the end of December.
Last week India also provided Sri Lanka A $ 400 million swap settings to increase the reserves and help pay debts.
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