The Sri Lankan government on Saturday said it is continuing efforts to secure a USD 500 million loan from India to ensure fuel supplies amid a severe foreign exchange crisis in the island nation.
“The proposal has been sent to the Treasury for approval and would be submitted to the Cabinet thereafter,” said Energy Minister Udaya Gammanpila.
He said the Cabinet had already sanctioned USD 3.6-billion loan from Oman for fuel purchases.
Gammanpila indicated that continuous fuel supplies can only be guaranteed till January next year as the island was facing a foreign exchange crisis and higher global prices.
