New US$ 1.5 billion loan from India ? : Details of Ind-SL ministers meeting released

January 15, 2022 at 1:23 PM


Indian Minister of External Affairs Dr. S. Jaishankar in a twitter message says he held a detailed virtual meeting with Finance Minister Basil Rajapaksa.

Statement from Dr. S. Jaishankar

Just concluded a detailed virtual meeting with Sri Lankan Finance Minister Basil Rajapaksa

Reaffirmed that India will be a steadfast and reliable partner of Sri Lanka.

We positively noted the extension of the USD 400 million swap facility and the deferred ACU settlement of USD 515.2 million.

Discussed the early realisation of USD 1 billion term loan facility for essential commodities and of USD 500 million LoC for fuel purchase.

Assured that India will take up with other international partners initiatives to support Sri Lanka at this important juncture.

Welcomed the progress on Trincomalee Tank Farm which will contribute to energy security.

Considered projects and investment plans by India that would strengthen Sri Lankan economy.

Urged early release of Indian fishermen in Sri Lankan custody as a humanitarian gesture.