Chennai: As the economic crisis in Sri Lanka continues, its Finance Minister Ali Sabri stated that India has agreed to extend an additional USD 500 million credit line to help the country in importing fuel.

Due to the crisis, Sri Lanka is struggling to pay for imports after its foreign exchange reserves plummeted sharply.

This has resulted in a devaluation of its currency and spiralling inflation.

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“India has agreed to provide an additional USD 500 million for our fuel imports”, Sabry said.

He also added that he was hopeful that India would also consider another credit line of 1 billion dollars.

 On Thursday, India said to have delivered one more consignment of 40,000 MT of diesel to Sri Lanka.

The diesel was sent to the crisis-hit country under the Indian credit line to help ease the acute power crisis.

With this consignment, a total of close to 400,000 MT of various types of fuel have been delivered with Indian assistance in two months.

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The High Commission informed that the 40,000 MT of diesel reached Sri Lanka on Wednesday.

In the same process, another consignment of 40,000 MT of diesel was sent to Sri Lanka on April 2. 

The consignment sent on Wednesday was the fourth since the crisis began.

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