Stephenson Harwood (Singapore) Alliance has advised on a deal which has been recognised at the India Business Law Journal (IBLJ) Deals of the Year Awards 2022.

IBLJ has selected 50 landmark India-related transactions that stood out for their overall significance, and innovative and interesting nature.

The deal relates to Stephenson Harwood (Singapore) Alliance and JSA Law jointly advising the State Bank of India (SBI) on a US$1 billion credit facility to the Government of Sri Lanka for the purposes of importing food, medicine and other essential items. The transaction was signed between SBI and the Sri Lankan government during finance minister Basil Rajapaksa’s visit to India. It is part of a wider initiative undertaken by both countries to increase bilateral economic cooperation and the aid will help to stabilise Sri Lanka's domestic economy.

Banking and finance partner Dr Gregory Xu advised on the transaction alongside Nand Gopal Anand of JSA Law.