INSUBCONTINENT EXCLUSIVE:
The first stock of 40,000 metric tonnes of rice imported under the USD 1 billion credit line with India is expected to arrive in Sri Lanka
rice varieties and will be released from the port as soon as possible after reaching the country and subsequently distributed to Lanka
110 per kilogram for Nadu and Raw Rice and at Rs
has extended to crisis-hit Sri Lanka for procurement of fuel and food have currently totalled USD 1.5 billion and the consignments will
Lanka, which is reeling under a financial crisis to ensure that it can meet some of the more immediate needs and help stabilise its domestic
economy.Since January this year, support from India to Sri Lanka exceeded USD 2.5 billion, the Indian envoy had said earlier.A USD 500
million line of credit for fuel purchases was signed in February and since the beginning of March, four consignments totaling over 150,000
tons of jet aviation fuel, diesel and petrol have arrived in Sri Lanka, Baglay had said
Five more consignments are to follow till May and another line of credit of USD 1 billion for food, medicine and essential items was signed
last month, the envoy said.The USD 1 billion line of credit to Colombo will help in keeping their food prices and fuel costs under check.The
first consignment of rice from India is expected to arrive in Sri Lanka shortly under this credit facility.India has also extended a USD
400-million currency swap and has deferred payments owed by the Central Bank of Sri Lanka owed to the Reserve Bank of India under the Asian
Clearance Union worth several hundred million dollars.The first consignment of rice from India is expected to arrive in Sri Lanka shortly
under this credit facility
Trading (General) Corp under the Indian Credit Facility Agreement.
This article first appeared/also appeared in https://adaderana.lk
