Severe financial crisis: Sri Lanka has reportedly borrowed money from India to buy fuel

Automobile 2021-10-17

newsteamz_Severe financial crisis: Sri Lanka has reportedly borrowed money from India to buy fuel
  • Sri Lanka has reportedly borrowed money from India to buy fuel.

  • The Energy Secretaries of India and Sri Lanka will soon sign the loan agreement, the report said.

  • The report comes after Energy Minister Udaya Gamanpila warned that there would be only fuel until next January.

Sri Lanka has reportedly borrowed money from India to buy fuel. Newsfirst LK quoted CPC Chairman Sumit Wijesinghe as saying that Sri Lanka had approached the Indian High Commissioner seeking a $ 500 million loan following the crisis.

The Energy Secretaries of India and Sri Lanka will soon sign the loan agreement, the report said. The report comes after Energy Minister Udaya Gamanpila warned that there would be only fuel until next January. Ceylon Petroleum Corporation, owned by the Sri Lankan government, owes $ 3.3 billion to two of the country's major banks.

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