Sri Lanka has inked an agreement for a loan of USD 55 million with EXIM Bank of India for the purchase of 65,000 metric tonnes of urea fertiliser required for the Yala Season.
The document was signed by the Secretary to the Finance Ministry M. Siriwardena and General Manager EXIM Bank of India.
The signing of the agreement was overseen by Prime Minister Ranil Wickremesinghe, Minister of Agriculture Mahinda Amaraweera and High Commissioner of India to Sri Lanka, Gopal Baglay.
The Prime Minister has previously indicated that ensuring food security for the populace was his priority as the country is facing grave shortages of essential food items. This credit facility could help to ensure the availability of Urea for the upcoming Yala season, said the Prime Minister’s Media Division.