India stands ready to help Sri Lanka: MEA
New Delhi: As Sri Lanka is battling a severe economic crisis, neighbour India has assured cooperation for its rapid post-COVID recovery in line with its 'Neighbour First' policy. While speaking to media persons here, the spokesperson of the Ministry of External Affairs, Arindam Bagchi said, "As a neighbour and close friend, India has been keenly following the evolving economic situation and other developments in Sri Lanka. To mitigate some of the economic difficulties faced by the people of Sri Lanka, India has extended support of about $2.5 billion in the past three months."
On April 6, India sent one consignment each of 36,000 MT Petrol and 40,000 MT Diesel to the neighbouring country. The total supply of various types of fuel under Indian assistance now stands at more than 270,000 MT. Reportedly, last week, a consignment of 40,000 MT of Diesel under Indian assistance through a Line of Credit of $500 million was handed over by High Commissioner to Sri Lanka's Energy Minister Gamini Lokuge. Besides, on April 1, Lanka's Indian Oil Corporation supplied 6,000MT of fuel to the Ceylon Electricity Board.
Meanwhile, the Sri Lankan rupee is fast depreciating against the dollar and foreign debt is mounting. The Lankan government's income has also taken a big hit due to the drop in tourism that has given rise to gas and fuel shortages, leading to massive power cuts, along with the economic crisis with food and fuel scarcity. The island nation of 22 million people is experiencing an acute crisis.
"As you are aware that to help mitigate the economic situation there, we have extended assistance there- if you put it together, about the $2.5 billion in past two-three months, includes the credit facility in fuel and food," the MEA spokesperson said.
India has also supplied around 40,000 tonnes of rice recently under the extended $1 billion credit facility to Sri Lanka to ease the shortage of essential food commodities in the country. "On various occasions, we have already extended our readiness and stated our actions till now," Bagchi said.
"As you are aware, the relationship between India and Sri Lanka is rooted in shared civilizational values and aspirations of our two peoples. Our cooperation, based on commonality and interests, has been strengthened in recent months. We see the recent developments in this perspective and stand ready to continue working with Sri Lanka for rapid post-COVID economic recovery," he added further.
