India extends US$ 425 million Line of Credit to Sri Lanka

(December 21, Colombo, Sri Lanka Guardian) Government of India has conveyed to Government of Sri Lanka its decision to extend a Line of Credit of US$ 425 million to the Government of Sri Lanka for the following three projects:

i. Track laying by IRCON (I) Ltd. on the Omanthai-Pallai sector of the Northern railway line;

ii. Track laying by IRCON (I) Ltd. on the Madhu-Tallaimannar sector; and

iii. Supply of rolling stock by RITES for Northern Sri Lanka.

The decision is part of India’s continued commitment to reconstruction and rehabilitation efforts in northern Sri Lanka and reflects the close and cordial bilateral relations shared by the two countries.

-Sri Lanka Guardian