US$ 3.6 billion credit facility from Oman - Udaya Gammanpila

 

Sri Lanka is set to sign an agreement with Oman for a US $. 3.6 billion credit facility to purchase fuel, Minister of Energy Udaya Gammanpila said.

The Minister said the agreement between the two countries on the credit facility will be signed next week.

The loan will be secured under a settlement agreement of over a period of 20 years.

The credit facility also provides a five -year grace period for the settlement of the loan, he said.

The agreement comes as part of Sri Lanka’s recent negotiations with several countries pertaining to the purchase of fuel