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Consignment of 40,000 MT of diesel arrives in Sri Lanka from India
21 Apr, 2022
A consignment of 40,000 MT of diesel arrived in Sri Lanka from India today.
The Indian High Commission in Sri Lanka said that one more consignment of diesel from India arrived in Sri Lanka.
The High Commission said that 40,000 MT of diesel under the Indian credit line reached Sri Lanka yesterday.
A total of close to 400,000 MT of various types of fuel have been delivered with Indian assistance in two months.
The Export Import Bank of India and the Government of Sri Lanka signed a US$ 500 million Line of Credit Agreement for purchase of petroleum products on 2 February 2022. The Agreement was signed by Treasury Secretary, S.R. Attygalle from the Sri Lankan side and Chief General Manager of EXIM Bank, Mr. Gaurav Bhandari from the Indian side.
Further, in response to a separate and urgent request from the Government of Sri Lanka, extension of a credit facility of USD 1 billion for supply of essential items including food and medicines has been finalized and the first shipments of rice under this facility is expected to reach Sri Lanka soon. Earlier in January this year, India had provided financial assistance to Sri Lanka that included a credit swap of US$ 400 million and deferment of an Asian Clearing Union payment of over US$ 515 million. In cumulative terms, Indian support to the people of Sri Lanka in the first quarter of 2022 is in excess of US$ 2.5 billion.
In view of the urgent nature of Sri Lanka?s requirement, India worked overtime to expeditiously finalise and start implementing both the lines of credit, within weeks. (Colombo Gazette)
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