The signing of Bilateral Amendatory Agreements with the EXIM Bank of India in relation to the present External Debt Restructuring Process is a significant milestone of External Debt Restructuring of Sri Lanka.
The Government of India has played a pivotal role in spearheading Sri Lanka’s External Debt Restructuring Process, co-chairing the Official Creditor Committee alongside France and Japan. The leadership, commitment, and constructive engagement of the Government of India with the support of needy emergency assistance during the peak of the crisis was instrumental for Sri Lanka to navigate the challenges of economic recovery and also to make a remarkable progress towards the restoring of debt sustainability.
The signing of Bilateral Amendatory Agreements between the GoSL and the Export- Import Bank (EXIM) of India pertaining to Line of Credits and Buyer’s Credit Agreements were held on March 25, 2025 and April 03, 2025 respectively. The total amount of restructured 07 Line of Credit and 04 Buyers Credit Facility agreements with government of India is USD 930.8 Mn approximately. Mr. K.M. Mahinda Siriwardana, Secretary of the Ministry of Finance, Planning, and Economic Development signed the agreements on behalf of GoSL, and Mr.Nirmit Ved, General Manager of the EXIM Bank of India signed the Line of Credits while Mr. Amith Kumar, Deputy General Manager of the EXIM Bank India signed the Buyer’s Credit Agreements.
The conclusion of the bilateral Amendment Agreements will certainly pave the way to developing further the deep and longstanding bilateral relationships between the Government of India and the Government of Sri Lanka.
