Finance Minister Basil Rajapaksa returned to Sri Lanka today after concluding his two-day visit to India.
During his visit, the Minister signed a US$ 1 billion credit line with India to purchase essential items, including fuel, food, and medicines.
Upon his return to Sri Lanka, Finance Minister Basil Rajapaksa was questioned by journalists on whether the agreement consisted of any conditions.
Stating that the loan agreement is not subject to any conditions, he said the Government had commenced utilizing the loan from yesterday to purchase necessary essential items.
Minister Basil Rajapaksa explained that the repayment of the loan is due after three years and it consists of an interest rate during this period, similar to that of bank loans.
He further said the importers of essential items will be permitted to utilize the credit line from India to import their goods.
The Finance Minister assured that essential items will be available without shortages during the upcoming April New Year, due to the credit line from India. (NewsWire)