Litro begins settling credit facility provided by WB
September 29, 2022 03:30 pm
Litro Gas Lanka Ltd. says the company has repaid the General Treasury a tranche of the credit facility of USD 70 million received from the World Bank to maintain an uninterrupted LP gas supply.
Chairman of the company, Muditha Peiris, speaking to the media, stated that the entire credit facility is expected to be settled to the General Treasury by December this year.
“We received the credit facility from the World Bank in July. Having achieved the first tranche, we are now in the second phase. The final phase is now being implemented. We are now settling the payments for LP gas shipments arriving in the country using the USD 70 million provided by the World Bank”, he added.
The Chairman further emphasized that the company repaid an amount of LKR 6.5 billion in September and that it expects to settle a sum of LKR 8 billion to the General Treasury in October this year.
He also said that Litro Gas intends to repay the total amount of approximately LKR 26 billion received from the World Bank credit facility by this December.
