India extends USD 1 bn credit line to Sri Lanka for another year
India on Tuesday extended its under-utilised USD 1 billion credit line to Sri Lanka for another year to help the island nation hit hard by an unprecedented economic crisis procure much-needed food, medicine and other essential items. An agreement was signed between the State Bank of India (SBI) and the Sri Lankan government for USD 1 billion credit facility in March last year. India extended the credit line to Sri Lanka at the height of the country's economic crisis.