India gives more time for Sri Lanka to use remaining US $ 300 million of credit line | Sri Lanka News

India has extended the period for the utilization of around US $ 300 million of the US $ 1 billion credit line offered to Sri Lanka, Daily Mirror learns.

India offered this credit line for one year to purchase essentials. The one-year period has now lapsed, but around US $ 700 million of it has been exhausted.

However, the period of the use of the remaining amount has been extended. It is now meant for the purchase of pharmaceuticals.

Sri Lankan High Commissioner Milinda Moragoda is reported to have requested Indian Finance Minister Nirmala Sitharaman in this regard during a meeting on March 21, 2023. Also, he made the same request from the Reserve Bank of India during a meeting on March 28, 2023.  (Kelum Bandara)

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