|
|
|
| Sunday, 15 January 2006 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
Lanka,
Pakistan sign $20 m Credit Line
Sri Lanka and Pakistan signed an agreement last week for the Credit Line amounting to US$ 20 million. The money will be used to buy products of Pakistan origin mutually agreed upon by the two countries. The Line of credit is offered on concessionary terms at an interest rate of 2%. The repayment period is 15 years which includes a grace period of three years. The National Bank of Pakistan and the Central Bank of Sri Lanka are the implementing agents. This is the third line of credit given by the government of Pakistan to Sri Lanka. Earlier, two similar credit lines amounting to US$ 15 million were given to Sri Lanka to import goods from Pakistan. Pakistan has also given US$ five million to upgrade the railway system. Already US$3 million has been utilised while the balance will be used to purchase oil wagons. |
|
| News | Business | Features
| Editorial | Security
| Produced by Lake House |
