Sri Lanka has sought a US $ 55 million loan from India for the procurement of urea.
The government said the Indian government has agreed to provide a US$ 55 million loan through the Export-Import Bank of India.
The loan is being obtained for the procurement of Urea for the 2022/23 Maha season.
Accordingly, the Cabinet has granted approval to the proposal presented by the Prime Minister in his capacity as the Minister of Finance to sign the agreement with India. (NewsWire)