Credit Line available to import goods from India
09th May 2022
We have pleasure in sharing herewith a document received by us from the Indian High Commission in Colombo, regarding the Credit Line available to import goods from India, under the credit facility offered to Sri Lanka by the Government of India in March, 2022.
The State Bank of India (SBI) IFSC Gift City Gandhinagar has sanctioned a Term Loan Facility of USD 1,000 Mn. backed by Guarantee of Government of India for the purpose of import of eligible goods by Sri Lanka from India. The Credit Facility will be available for drawdown up to 12 months from the Signing Date of Facility Agreement i.e., up to 16th March 2023.
Eligible Goods includes Food Items, Medicines, Fuel, and Industrial Raw Material from Indian exporters.
- The Contract between the Importer and the Exporter in India requires the Importer to make payment to the Exporter of 100% (one hundred per cent) of FOB/CFR/CIF/CIP contract price of the Eligible Goods and Services, pro-rata against the shipments;
The Currency Conversion charges from USD to INR and other charges related to USD 1 billion facility will be borne by Government of Sri Lanka.
Members are kindly requested to contact the respective authorities to obtain further details. The contact details of officials are stated below:
- High Commission of India - Ms. Irina Thakur, First Secretary (Commerce and Culture), High Commission of India. Mobile no: +94773479197 : E-mail [email protected]
- Government of Sri Lanka - Mr. Samantha Bandara, Director, Department of External Resources, Ministry of Finance. Mobile no: +94718556565 : Office No.: +94 11 2151453 : Email [email protected]
Lilakshini de Mel
Senior Assistant Secretary General
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