India offers credit line of USD 500 mn to Sri Lanka to purchase petroleum products

New Delhi [India]: After discussion between External Affairs Minister Dr S Jaishankar and Finance Minister of Sri Lanka Basil Rajapaksa on January 15, 2022, India extended a credit line of USD 500 mn to Sri Lanka for purchase of petroleum products.

Taking to Twitter, the High Commission of India in Colombo, Sri Lanka said, "A friend holds out a helping hand again!!! Energizing bilateral economic partnership,#India offers a credit line of USD 500 mn to Sri Lanka for the purchase of petroleum products. Critical support by India follows a discussion between EAM @DrSJaishankar &Hon'ble Fin Minister @RealBRajapaksa. India extended forex support of USD 900 million was earlier this month. "

As per the statement by MEA, the two Ministers agreed to remain in close touch for guiding mutually beneficial bilateral economic cooperation towards long-term economic partnership for shared progress and prosperity.