USD 55 Mn loan from India for fertilizer

Cabinet nod for USD 55 Mn loan from India for Urea Fertilizer

by Zulfick Farzan 07-06-2022 | 8:57 AM

COLOMBO (News 1st); The Sri Lankan Cabinet of Ministers had granted approval to obtain USD 55 Million as loans from the Export-Import Bank of India to procure Urea fertilizer for the 2022/23 Maha Cultivation Season.

A document from the Department of Government Information noted that the Indian Government has already agreed to provide the funds.

It added that the proposal by the Prime Minister in his capacity as Finance Minister to enter into agreements for this purpose, were approved by the Cabinet of Ministers.

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