Sri Lanka has sought a US $ 55 million loan from India for the procurement of urea.
The government said the Indian government has agreed to provide a US$ 55 million loan through the Export-Import Bank of India.
The loan is being obtained for the procurement of Urea for the 2022/23 Maha season.
Accordingly, the Cabinet has granted approval to the proposal presented by the Prime Minister in his capacity as the Minister of Finance to sign the agreement with India.