$500 million loan by India to Sri Lanka

$500 million loan by India to Sri Lanka

Question – On January 18, 2022, India announced a LoC(Line of Credit) of $ 500 million to which country?
(a) Nepal
(b) Myanmar
(c) Sri Lanka
(d) Afghanistan
Answer—(c)
Related facts—

  • On 18 January 2022, the Government of India announced a $500 million loan to Sri Lanka.
  • The loan will help Sri Lanka procure petroleum products, which is facing massive fuel and energy crisis.
  • Apart from this, the Government of India has announced an aid package of 1 billion dollars to Sri Lanka for the import of food, essential commodities and medicines.

By – Pankaj Pandey

Link:
https://www.thehindu.com/business/Economy/india-extends-another-500-million-loc-to-sri-lanka-for-emergency-fuel-import/article38289095.ece