India approve line of credit for Sri Lanka to help pay for key import

Govt of India has approved $ 1 billion line of credit (LoC) for Sri Lanka to help the Island nation for importing food, essential items and medicine. Sri Lanka is currently facing a severe economic crisis.

LoC is being extended by India in line with its efforts to assist its neighbouring country in fight against the COVID-19 pandemic, and to mitigate its adverse impact and its developmental priorities.

Sri Lankan Finance Minister: Basil Rajapaksa.