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The Government of India has extended a US$ 100 million credit line to Sri Lanka for the development of the small and medium industrial sector as part of a bilateral agreement between the two Governments. These funds will be available for the importation of capital goods, consumer durables, consultancy services and food items of Indian origin. The Bank of Ceylon and the DFCC Bank recently signed an agreement to promote the US$ 100 million Indian credit line. DFCC will be a participatory bank in channelling this credit line to private and public sector projects. “This credit line will be a major boost for industrialists who import machinery and equipment from reputed manufacturers based in India in almost all industry sectors,” a spokesman for the DFCC Bank said.
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