India may allow SL up to 12 years to repay debt

India plans to allow Sri Lanka up to 12 years to repay its debt to  help ease the financial burden on the island nation, India’s Export  Credit Guarantee Corporation (ECGC) Ltd’s Chairman-cum-Managing Director  M. Senthilnathan said as quoted in foreign media.  

The foreign media said Sri Lanka’s negotiations with the  IMF are going on. After that restructuring package will come, we will  recover [our] money over a period of time. What we are supposed to get  in 3–4 years, may get extended to 10–12 years,” Senthilnathan said.  

“But the interest rate will come down. This is a situation  induced by inflation and because of the fallout of (Ukraine) war. You  accommodate them for the next 5–6 years and later the markets will open  up,” Senthilnathan added.  
However, there is no formal announcement by the External  Affairs Ministry of India, EXIM Bank of India or any other Indian agency  with authority in this regard.        

• There is no formal announcement by the External  Affairs Ministry of India, EXIM Bank of India or any other Indian agency  with authority in this regard