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Sri Lanka Army to benefit from Indian line of credit

Sri Lanka government will use the Indian line of credit to acquire a fleet of vehicles for the army trying to cut down on expenditure.

world Updated: Apr 13, 2011 16:54 IST

Sri Lanka government will use the Indian line of credit to acquire a fleet of vehicles for the army trying to cut down on expenditure.

The army in the quest to trim its operational expenditure was looking to stop the practise of hiring private vehicles, the Island newspaper on Wednesday quoted the Army Commander Lieutenant General Jagath Jayasuriya as saying.

Jayasuriya said the government is to use Indian line of credit to acquire a fleet of vehicles required by the Army.

The government of India had extended credit worth $400 million since 2003 covering the areas of capital goods, consumer durables, consultancy services and food items.