Iran Extends Oil Credit Facility for Sri Lanka

TEHRAN (FNA)- The Iranian government has agreed to extend the credit facility for Sri Lanka to meet its crude oil requirements for another three months at a concessionary interest rate.

According to Sri Lankan Petroleum Corporation sources the interest-free credit facility extended by Iran to Sri Lanka to purchase the country’s crude oil requirement is to end soon.

The Corporation is slated to conclude the agreement with Iranian government officials in a meeting on October 13, to be attended by Sri Lanka’s Petroleum Resources Minister A.H.M. Fowzie.

This credit facility came into effect following President Mahinda Rajapaksa’s visit to Iran.