2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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How much amount has been approved by India for Sri Lanka as a Line of Credit to help the island country in importing food, essential items and medicine?
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USD 2 billion
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USD 1 million
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USD 1 billion
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USD 2 million
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Explanation:
Detailed explanation-1: -New Delhi has provided a concessional loan of USD 1 billion to Sri Lanka for the supply of food, fuel, medicines, and other essential items.
Detailed explanation-2: -With $968 mn of loans, India surpasses China to become largest lender of Sri Lanka.
Detailed explanation-3: -The International Monetary Fund has preliminarily agreed to extend a 48-month $2.9 billion loan to Sri Lanka to help restore economic stability to the crisis-hit South Asian country.
Detailed explanation-4: -An Agreement was signed between the Government of Sri Lanka and the State Bank of India on March 17, 2022 for a term loan facility of USD 1 billion for import of food, medicines and other essential items from India.
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