New Delhi: India on Thursday announced a USD 1 billion line of credit for the purchase of food products, medicines, and other essentials to Sri Lanka, which is facing a severe economic crisis, and an agreement was signed between the two countries. External Affairs Minister S Jaishankar gave this information.
Jaishankar tweeted, “Neighborhood first. India stands with Sri Lanka. A loan facility of one billion dollars was signed for the supply of essential commodities. An important element of the package of support from India.” At the same time, in the tweet of the Ministry of Finance, it has been said that the State Bank of India (SBI) and the Government of Sri Lanka signed an agreement of one billion dollar credit facility to Sri Lanka for the purchase of food products, medicines, and other essentials.
According to the Finance Ministry, Finance Minister Nirmala Sitharaman and External Affairs Minister S Jaishankar held a meeting with Sri Lanka’s Finance Minister Basil Rajapaksa in New Delhi on Thursday. The ministers held wide-ranging discussions on a wide range of issues of mutual interest and economic cooperation.
Rajapaksa arrived in New Delhi on Wednesday on a three-day visit. He had met Prime Minister Modi on Wednesday itself. Prime Minister Modi told Sri Lanka’s Finance Minister Basil Rajapaksa on Wednesday that India will always stand by the island nation as a close neighborly friend. This information was given by the High Commission of Sri Lanka.
Rajapaksa, who is on a visit to India, thanked Prime Minister Modi for all the assistance provided by India to Sri Lanka during this “difficult time”. India last month announced a $500 million line of credit to Sri Lanka to help it procure petroleum products. Sri Lanka is currently grappling with a severe foreign exchange and energy crisis.
“When Sri Lankan Finance Minister Basil Rajapaksa met Prime Minister of India, Narendra Modi in this afternoon, he said that India will always stand by neighboring Sri Lanka, a close friend,” the Sri Lankan High Commission said in a statement. It had been said that Modi and Rajapaksa discussed a range of issues related to bilateral relations, including in the areas of agriculture, renewable energy, tourism, and fisheries.
The two leaders also agreed that cooperation in the development of renewable energy in Sri Lanka is mutually beneficial and should be pursued with enthusiasm. The High Commission had also said that Modi and Rajapaksa had “extensive discussions” on the issue of fisheries and recognized its “complex and multifaceted” aspects.
The Sri Lankan High Commission said, “Prime Minister Modi and Minister Rajapaksa held wide-ranging discussions on the issue of fisheries between the two countries and its complexities including humane treatment of fishermen, livelihoods, enforcement, ecology of the sea, early release of arrested fishermen and their boats.” and identified the multidimensional aspects, etc.” “The two leaders also agreed on the urgent need to find a permanent solution to this complex issue,” it said.
