Mar 19, Colombo: Minister of Finance Basil Rajapaksa said steps will be taken to import the essential commodities to Sri Lanka in a transparent manner in collaboration with the Ministry of Trade with the loan of one billion dollars received from India.

Mr. Rajapaksa was responding to media queries when he arrived at the Katunayake Bandaranaike International Airport yesterday (18) after concluding his two day official visit to India.

During the Minister’s visit, an agreement was signed between State Bank of India (SBI) and Government of Sri Lanka for $1 billion credit facility for procurement of food, medicine and other essential items to Sri Lanka.

“The Government of India has extended a loan of US$ 1 billion from Thursday to purchase all essential items including food and medicine for the upcoming Sinhala and Hindu New Year,” Minister Basil Rajapaksa said.

Following discussions with visiting Sri Lankan Minister of Finance Basil Rajapaksa, India’s Ministry of Finance announced that He said the priority will be given to the businessmen who have been importing these goods for a long time to promptly import and arrangements will be made to make those items available for people to purchase at reasonable prices.

“India has always been friendly to Sri Lanka. This time Prime Minister Narendra Modi has given special focus on helping Sri Lanka at this crucial time. India assists Sri Lanka economically and socially when needed,” Minister Basil Rajapaksa said.