Stephenson Harwood (Singapore) Alliance and JSA Law have jointly advised 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 recent 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.

Stephenson Harwood (Singapore) Alliance banking and finance partner Dr Gregory Xu advised on the transaction alongside Nand Gopal Anand of JSA Law.