INSUBCONTINENT EXCLUSIVE:
Minister of Finance Basil Rajapaksa will visit India next week, the Indian High Commission in Colombo confirmed.Taking to its official
Twitter account, the High Commission stated that India keenly looks forward to welcoming the Sri Lankan Finance Minister next week.His visit
will consolidate ongoing efforts to further strengthen the economic partnership between India and Sri Lanka, the tweet read further.Last
that India would continue to support Sri Lanka in all possible ways.During a virtual held in January this year, the two ministers reviewed
the progress in extending the Indian credit facility of USD 1 billion for importing food, essential items, and medicine and USD 500 million
for procuring fuel from India.On March 10, the Reserve Bank of India (RBI) issued a notification to initiate the USD 500 million line of
credit provided by India to Sri Lanka, to finance the purchase of petroleum products.According to the RBI, out of the total credit by Exim
Bank under the agreement, goods, works, and services of the value of at least 75 per cent of the contract price shall be supplied by the
This article first appeared/also appeared in https://adaderana.lk
