The Government has decided to obtain a series of short-term loans for the purchase of petroleum products with the assistance of the Export-Import Bank of India.
In view of the prevailing economic situation in the country, an action has been taken to obtain a short term loan facility of US $ 500 million with the assistance of the Government of India Export-Import Bank and another US $ 200 million loan facility with the assistance of the State Bank of India are available for the purchase of petroleum products in Sri Lanka.
Accordingly, the proposal made by Hon. Minister of Power and Energy, to proceed with the relevant activities, was approved by the Cabinet at its meeting held yesterday.