New Delhi:
Pakistan has decided to lend Sri Lanka a $200 million loan for the purchase of rice and cement, The News reported.
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 finalised by the authorities from both the countries, it added.
Sri Lanka 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 credit line while the details of the credit are yet to be worked out, according to reports by Colombo’s newspaper.
The amount will be used to import cement, basmati rice and medicines manufactured in Pakistan, the publication added.
Sri Lanka has been facing a shortage of cement which has led to skyrocketing prices.
Sri Lanka is facing one of its worst-ever power crises with no dollars to buy fuel.
On January 18, India had extended a $500 million line of credit to Sri Lanka for fuel import. (IANS)