Sri Lanka Secures $1 Billion Credit Line From India in Bid to Stem Economic Crisis

Sri Lanka Secures $1 Billion Credit Line From India in Bid to Stem Economic Crisis
People stand in a queue to buy kerosene oil for home use at a petrol station in Colombo, Sri Lanka on March 17, 2022. Ishara S. Kodikara/AFP via Getty Images
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India has extended a $1 billion credit line to debt-ridden Sri Lanka, offering support to the island nation as it attempts to ease its worst economic crisis in years.

India signed an agreement to offer Sri Lanka a $1 billion short-term concessional loan facility during Finance Minister Basil Rajapaksa’s visit to New Delhi on Thursday, according to the High Commission of Sri Lanka in India’s statement.
Aldgra Fredly
Aldgra Fredly
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Aldgra Fredly is a freelance writer covering U.S. and Asia Pacific news for The Epoch Times.
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