Sri Lanka has determined to obtain a fleet of 750 jeeps and 500 buses from India underneath the credit score line it obtained from New Delhi, the island nation’s authorities introduced right here on Tuesday. The choice to buy the 750 jeeps from Indian auto producer Mahindra and Mahindra was taken throughout a Cupboard assembly held on Monday.
“Police may have its fleet of automobiles upgraded with the procurement of jeeps from India underneath the credit score line authorized for the aim,” in keeping with an announcement issued by the Cupboard. In line with the assertion, approval was granted to a proposal by the minister of Public Safety to award the procurement contract to the Mahindra and Mahindra Firm.
Equally, a proposal from the Minister of Transport was additionally authorized to buy 500 buses of 32-35 seating capability from India in pursuance to a Cupboard resolution made in January 2020. It was in November 2020 the Cupboard had authorized the transfer to buy the jeeps underneath the Indian credit score line, it stated.
The transfer got here days after Sri Lanka agreed to signal a contemporary take care of India to lease out a few of the oil tanks of the strategic World Warfare II period oil tank farm for 50 years within the japanese port district of Trincomalee. In 2020, India prolonged a USD 100 million Line of Credit score to Sri Lanka to assist the island nation finance varied initiatives.
In October 2021, Sri Lanka once more sought a USD 500 million credit score line from India to pay for its crude oil purchases amid a extreme international alternate disaster within the nation. Basil Rajapaksa, the island nation’s finance minister, visited Delhi final month which the officers described as a way to expedite excellent points on financial cooperation with India.