India grants loan of $900 million to Sri Lanka to overcome forex crisis
- India has announced a financial assistance of USD 900 million loan to Sri Lanka to help the island nation in building up its depleted foreign reserves and for food imports.
- It must be noted that Sri Lanka is currently facing a shortage of almost all essential commodities due to a shortage of dollars to pay for the imports.
- India is extending the support through the Reserve Bank of India (RBI).
Source: Financial Express
Points to Remember:
- How much amount of financial aid has been extended by India to Sri Lanka to over forex crisis?