India to provide $318 million line of credit to Sri Lanka

India has signed an agreement to provide fresh assistance of 318 million US Dollar credit line to Sri Lanka for the development of the railway sector in the country. 

The agreement was signed in Colombo. India has already provided four Lines of Credit for the development of



railway sector in Sri Lanka through its EXIM bank amounting to approximately USD 966 million. 

These credit facilities have been utilized to improve the Southern and Northern railway lines and for the procurement of rolling stocks for the Sri Lanka Railways.