Sri Lanka restructures nearly $931 million in credit lines with India

COLOMBO, May 15 (Reuters) – Sri Lanka has restructured nearly $931 million in lines of credit and buyers’ credit facility agreements with the Indian government, the island nation’s finance ministry said on Thursday.

The deal between the two countries will facilitate deeper cooperation on multiple projects including an energy hub agreed to during a visit by Indian Prime Minister Narendra Modi last month. The debt restructuring covers seven line of credit and four buyers credit facility agreements that were made available to Sri Lanka by the Export- Import Bank (EXIM) of India, the finance ministry statement said…..| read more on Reuters