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Context: India extends $1-billion line of credit to Sri Lanka to enable Sri Lanka to import food, other essential commodities and medicines from India.

• Along with India’s emergency financial assistance, Indian investments in renewable energy, ports, logistics, infrastructure and connectivity will help Sri Lanka build capacity “holistically”, repairing its economy.

India’s Four-pillar initiative to help Sri-Lanka:

• It comprising lines of credit for food, medicines and fuel purchases granted by India
• A currency swap agreement to deal with Sri lanka’s balance of payment issues
• An “early” modernisation project of the Trinco oil farms that India has been pursuing for several years, and
• A Sri Lankan commitment to facilitate Indian investments in various sectors.

https://indianexpress.com/article/india/india-usd-billion-line-credit-sri-lanka-7825160/

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