Recently an LOC agreement was signed between Sri Lanka

Solution

India has decided to extend a Line of Credit (LOC) of $55 million to Sri Lanka for the procurement of urea. An LOC agreement was signed between Sri Lanka and the Export-Import Bank of India at Colombo. India has extended multi-pronged assistance to the people of Sri Lanka in the last few months. The support from India ranges from economic assistance of close to $3.5 billion to helping secure Sri Lanka's food, health and energy security by supplying essential items like food, medicines, fuel, kerosene etc.