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Sri
Lanka receives third installment of Indian credit
[March
25, 2004
- 10.30
GMT]
The third tranche of US$
25 million of the US$ 100 million Line of Credit extended by the India to
Sri Lanka was signed Tuesday, 23rd March, 2004, in Colombo, in
the presence of Secretary to the President W.J.S Karunaratne and Secretary
to the Treasury Charitha Ratwatte.
As in the case of the
earlier two tranches of US$ 45 million and US$ 30 million, this line of
credit would help finance Sri Lankan imports from India, including capital
goods, consumer durables, consultancy services and five specified items of
food by the government and by the private sector.
The terms of credit
provided for under this agreement are extremely liberal, envisaging a 20
year repayment period, with a five year grace period at LIBOR rate of
interest.
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Last Updated
Date: March 25, 2004 -
10.30
GMT. |
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