Sri Lanka to purchase medicine from Indian credit line’s remaining US$ 423mn

Sri Lanka will prioritise in importing essential medicines from the remainder of the US$ 1 billion credit line from India, which extended by a year up to March 2024.
“The initial agreement was signed in 2022 March and out of the US$ 1000 million allocated materials were imported for US$ 576.75 million. 

The agreement is extended for the remaining US$ 423.25 million. We will prioritise the import of essential medicines till March 2024,” State Finance Minister Shehan Semasinghe tweeted yesterday.
The signing of the agreement to extend the assistance scheme for the import of essential materials for a further period of one year was carried out yesterday in Colombo with officials of the State Bank of India participating in the event virtually.