India’s support to Sri Lanka: $4 bn aid this year

India on Tuesday responded to a media query regarding reports on “no further financial support from New Delhi to Colombo”, stating that it has extended around $4 billion in bilateral assistance this year for the people of Sri Lanka.
A spokesperson of the High Commission of India in Colombo also advocated other bilateral and multilateral partners supporting Sri Lanka expeditiously in its current economic difficulties. “We have seen the relevant media reports. We would like to emphasise that India has extended unprecedented bilateral assistance amounting close to $4 billion this year for ameliorating the difficulties faced by the people of Sri Lanka. India has also advocated to other bilateral and multilateral partners supporting Sri Lanka expeditiously in its current economic difficulties,” India in Sri Lanka said in a tweet.
In a bid to sustain it from debt, India also extended its continuous support to Sri Lanka in all possible ways, particularly by promoting long-term investments from New Delhi in key economic sectors in Colombo for its early economic recovery and growth.
“We have also noted the conclusion of a Staff Level Agreement between IMF and Government of Sri Lanka. Its further approval within IMF is contingent upon, inter alia, on Sri Lanka’s debt sustainability. We continue to be supportive of Sri Lanka in all possible ways, in particular by promoting long-term investments from India in key economic sectors in Sri Lanka for its early economic recovery and growth,” the spokesperson of the High Commission also said.
On 22 August, India handed over 21,000 tonnes of fertilizer to its crisis-ridden neighbour.
India under its ‘Neighbourhood First’ policy, has always come forward to help the debt-ridden island country.
India has extended 8 Lines of Credit to Sri Lanka amounting to USD 1,850.64 million in the past 10 years.