The Reserve Bank of India has signed necessary documents for extending a $ 400 million currency swap facility to the Central Bank of Sri Lanka.
This currency swap arrangement will remain available till November 2022.
The High Commission has conveyed this information to senior officials in the Government of Sri Lanka and the Central Bank of Sri Lanka.
On 14 July, Deputy High Commissioner Vinod K. Jacob met and discussed the currency swap arrangement with the Central Bank of Sri Lanka Governor Prof. W.D. Lakshman.
The High Commission said it has remained closely engaged in fruitful bilateral cooperation with Sri Lanka on all matters of mutual interest. It recalled that on 22 July, High Commission facilitated constructive technical discussions on rescheduling of bilateral debt repayment by Sri Lanka.
“These positive developments illustrate active implementation of the leadership-level commitment to work together for addressing the challenges arising from the COVID-19 pandemic, and further the mutually beneficial India-Sri Lanka partnership, including in the economic domain,” the High Commission said in its statement.