Sri Lanka has officially finalized a series of debt restructuring agreements with the Export-Import Bank of India, covering credit lines and buyer’s credit facilities totaling approximately US$ 930.8 million, the Ministry of Finance announced.
These Bilateral Amendatory Agreements form part of Sri Lanka’s broader strategy to manage its external debt obligations.
The deals, signed on 25th of March and 3rd of April restructure seven Lines of Credit and four Buyer’s Credit Agreements previously extended by the Indian government.
The Ministry of Finance stated that concluding these agreements will further strengthen the longstanding bilateral ties between Sri Lanka and India.
Treasury Secretary Mahinda Siriwardana signed the agreements on behalf of Sri Lanka, while EXIM Bank of India was represented by General Manager Nirmit Ved and Deputy General Manager Amith Kumar.
The Finance Ministry acknowledged India’s crucial role in guiding Sri Lanka’s external debt restructuring efforts.
It credited India’s leadership, commitment, and emergency assistance during the peak of the economic crisis for helping Sri Lanka progress toward restoring debt sustainability.
India’s support, both financially and diplomatically, was instrumental in helping Sri Lanka navigate a path to economic recovery.
These agreements mark another milestone in the economic cooperation between the two nations.
Sri Lanka views the restructuring deal as a positive step toward fiscal stability and strengthened regional partnerships.
