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of <h1>India and Sri Lanka Sign $30M Credit Agreement for Import of Goods and Services; Deadline Set for 2005.</h1> The circular outlines the terms of a USD 30 million credit agreement between the governments of India and Sri Lanka, signed on October 15, 2003. This is the second tranche from a total USD 100 million line of credit agreed upon in 2001. The credit is designated for Sri Lanka to import Indian-manufactured capital goods, spare parts, consultancy services, consumer durables, and specific food items. Contracts require approval from both governments and must be finalized by December 31, 2004, with funds drawn by December 31, 2005. The State Bank of India will manage reimbursements, and no agency commission is allowed.
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