India and China provide financial assistances

EXIM Bank of China has released US $ 60 million as part of the loan for the construction of the first stage of the Central Expressway, Colombo ource said.

Meanwhile, Reserve Bank of India (RBI) on Thursday issued a notification to initiate the $500 million line of credit provided by India to Sri Lanka, which would enable it to buy petroleum products.

The island nation is going through one of its worst economic crisis mainly due to the Coronavirus pandemic.

In a notification, RBI said that out of the total credit by Exim Bank, goods, works and services of value of at least 75 per cent should be supplied by the seller from India.

The remaining 25 per cent of goods and services may be procured by seller (Sri Lanka) from outside India.

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