Sri Lanka gets $55-mn credit line from India for fertilizers amid crisis
The country of 22 million is suffering its worst economic crisis in seven decades.
- Jun 7, 2022,
- Updated Jun 7, 2022 10:52 AM IST
Sri Lanka's cabinet has approved a $55-million credit line from India's Exim Bank for the crisis-stricken Indian Ocean nation to buy fertilizers, a cabinet spokesman said on Tuesday.
The country of 22 million is suffering its worst economic crisis in seven decades, battling a shortage of foreign exchange that has stalled imports of essential items such as fuel, medicine, and fertilizers.
Also Read: India gives 3.3 tonnes of medical supplies to crisis-hit Sri Lanka Also Read: Crisis-hit Sri Lanka hopes for over $1 billion in foreign investment this year
Sri Lanka's cabinet has approved a $55-million credit line from India's Exim Bank for the crisis-stricken Indian Ocean nation to buy fertilizers, a cabinet spokesman said on Tuesday.
The country of 22 million is suffering its worst economic crisis in seven decades, battling a shortage of foreign exchange that has stalled imports of essential items such as fuel, medicine, and fertilizers.
Also Read: India gives 3.3 tonnes of medical supplies to crisis-hit Sri Lanka Also Read: Crisis-hit Sri Lanka hopes for over $1 billion in foreign investment this year