The finance ministry on Thursday stated State Financial institution of India (SBI) will present USD 1 billion credit score facility to Sri Lanka for procurement of meals, medicines and different important objects.
The ministry in a tweet stated Finance Minister Nirmala Sitharaman and Exterior Affairs Minister S Jaishankar met Sri Lankan Finance Minister Basil Rajapaksa right here.
The ministers mentioned broad ranging points, it added. “Settlement was signed between SBI and Authorities of Sri Lanka for USD 1 billion credit score facility for procurement of meals, medication and different important objects to Sri Lanka,” the ministry stated in one other tweet.
Earlier, the Export-Import Financial institution of India (Exim Financial institution) had prolonged a line of credit score of USD 500 million for financing the acquisition of petroleum merchandise to Sri Lanka which is going through a monetary disaster.