Sri Lanka seeks $500 million loan from India for fuel

Sri Lanka has decided to secure a loan facility of USD 500 million from India to purchase fuel.

Chairman of the Ceylon Petroleum Corporation (CPC) Sumith Wijesinghe stated the Indian High Commission in Sri Lanka will assist in obtaining the loan facility for Sri Lanka.

Treasury Secretary S. R. Attygalle stated that the Energy Secretaries of both India and Sri Lanka are expected to sign an agreement for the loan.

He further stated that the loan agreement will be signed between the Governments of Sri Lanka and India in due course.