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.
-
Universal Music faces massive $64 billion takeover bid -
Oil prices surge as Trump’s Iran deadline looms -
Oil prices turn volatile after Trump’s fiery warning to Iran -
Cathie Wood invests millions in rising tech stock as Ark Innovation fund faces mixed returns -
Here's when poker tactics secured Microsoft’s DeepMind deal -
JBS strike ends: Why Colorado workers are returning to the plant -
Chocolate prices climb across Europe before Easter -
Why are banks subscribing to Grok to secure the SpaceX IPO?
