Russia to grant Sri Lanka $300 mln loan to buy armaments

Russia will grant Sri Lanka a $300-million loan to buy armaments and dual purpose products, the Russian ambassador said Friday.

Russia will grant Sri Lanka a $300-million loan to buy armaments and dual purpose products, the Russian ambassador said Friday.

A relevant intergovernmental agreement is to be signed during Sri Lankan President Mahinda Rajapaksa's visit to Moscow February 6-8.

The Russian Finance Ministry confirmed the information.

"Such an agreement is being prepared for signing," Dmitry Pankin, a deputy minister, told RIA Novosti.

NEW DELHI, February 5 (RIA Novosti)