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 bounces from $62,000 as on-chain metrics signal prolonged weakness: Here is everything to know -
BTC price today: Bitcoin sinks below $65K on trade uncertainty -
Tesla expands Cybertruck lineup with affordable model in US, slashes Cyberbeast price to boost demand -
Uber enters seven new European markets in major food-delivery expansion -
Will Warner Bros finalize deal with Paramount or stays loyal with Netflix's offer? -
$44 billion Bitcoin blunder: Bithumb exchange apologizes for accidental payout -
Global memory chip crunch puts spotlight on Apple; Will iPhone become more pricey? -
Bitcoin plummets toward $60,000 as investors dump risky bets