India extends USD 900 million facilities to Sri Lanka

The High Commissioner of India to Sri Lanka, calling on Central Bank Governor Ajith Nivard Cabraal, has expressed his country’s strong support to the island nation in the wake of the Reserve Bank of India (RBI) extending over USD 900 million facilities over the last week.

These comprise deferment of Asian Clearing Union settlement of over USD 500 million and currency swap of USD 400 million, the Indian High Commissioner said in a tweet.

The Indian envoy has noted that these steps are in line with India’s strong commitment to stand with Sri Lanka for economic recovery and growth.