Pakistan to lend Sri Lanka $200mn: report
Sri Lanka’s Secretary to the Treasury Sajith Attygalle confirms that Islamabad and Colombo have agreed on the $200 million credit line in principle
ISLAMABAD: Pakistan has decided to give Colombo a $200 million loan for the purchase of rice and cement, said a Sri Lankan media report.
The decision was made during a recent visit of the Sri Lankan trade minister to Islamabad, the report said. However, the terms and duration of the loan were being finalized by the authorities from both the countries, it added.
Sri Lankan will use the amount for the import of rice and cement from Pakistan.
Sri Lanka’s Secretary to the Treasury Sajith Attygalle confirmed that Islamabad and Colombo have agreed on the $200 million credit line in principle while the details of the credit is yet to be worked out, according to Daily Mirror.
The amount will be used to import cement, basmati rice and medicines manufactured in Pakistan, the publication added.
It is pertinent to mention here that Sri Lanka is facing a shortage of cement recently, which had led to skyrocketing prices.
-
Bitcoin crashes below $63K as regulatory pressure and market fears grow -
Bitwise Crypto Industry innovators ETF: What investors should do in 2026? -
Nintendo shares slide again as momentum fears grow -
Gold, silver prices fallen sharply; What’s driving the drop? -
Gold’s record climb: Experts question if its safety is ‘overstated’ -
Dubai unveils plans to construct street built with real gold -
Netflix slams Paramount’s bid: 'Doesn't pass sniff test’ as Warner battle escalates -
Ubisoft: Shares plunge amid restructuring plan and wave of games cancellations