Indian Exim Bank pledges USD 500mn Credit Line to Sri Lanka for financing oil imports

Export-Import Bank of India has entered into an agreement with Sri Lanka, to support a USD 500 million Credit Line for the purpose of financing purchase of petroleum products from India.

Out of the total credit by Exim Bank under the agreement, goods, works, and services of the value of at least 75 percent of the contract price shall be supplied by the seller from India, and the remaining 25 percent of goods and services may be procured by the seller for the purpose of the eligible contract from outside India.