Crisis-Hit Sri Lanka Seeks $55 Million Loan From India To Buy Fertilizers
NDTV
Prime Minister Ranil Wickremesinghe had recently warned of a food crisis. The government said that the India has agreed to provide the $55 million loan through the Export-Import Bank of India.
Sri Lanka has sought a USD 55 million loan from India for the procurement of urea amidst its worst economic crisis threatening a severe food shortage, an official said on Tuesday.
Prime Minister Ranil Wickremesinghe had recently warned of a food crisis in the island nation due to the ongoing economic crisis.
The Cabinet has approved a proposal by the Prime Minister to sign an agreement with India to purchase urea for agriculture, an official said.
The government said that the Indian government has agreed to provide the USD 55 million loan through the Export-Import Bank of India.
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