The finance ministry on Thursday said State Bank of India (SBI) will provide USD 1 billion credit facility to Sri Lanka for procurement of food, medicines and other essential items.
The ministry in a tweet said Finance Minister Nirmala Sitharaman and External Affairs Minister S Jaishankar met Sri Lankan Finance Minister Basil Rajapaksa here.
The ministers discussed wide ranging issues, it added. "Agreement was signed between SBI and Government of Sri Lanka for USD 1 billion credit facility for procurement of food, medicine and other essential items to Sri Lanka," the ministry said in another tweet.
Earlier, the Export-Import Bank of India (Exim Bank) had extended a line of credit of USD 500 million for financing the purchase of petroleum products to Sri Lanka which is facing a financial crisis.
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