State

India extends USD 1 billion line of credit to Sri Lanka for one more year (till March 2024)

Published on 17 Jun 2026

← Back to Current Affairs
India extends USD 1 billion line of credit to Sri Lanka for one more year (till March 2024)
  • An agreement was signed between the State Bank of India (SBI) and the Government of Sri Lanka in March 2022 for a $1 billion loan facility
  • India extended the credit line to Sri Lanka at the height of the country's economic crisis
  • The facility was instrumental in quick procurement of vital supplies such as fuel, foodstuffs and industrial raw materials for Sri Lanka.
Source: SarkariPariksha