A cargo ship carrying humanitarian aid by the Indian government to the Sri Lankans arrives at a port in Colombo
Highlight
- India delivered another consignment of 40,000 metric tonnes of diesel to Sri Lanka.
- India and Sri Lanka signed a loan agreement worth USD 500 million.
- India has provided assistance of over USD 3.5 billion to Sri Lanka this year alone.
Sri Lanka economic crisis: India on Tuesday said it has delivered another 40,000 metric tonnes of diesel to Sri Lanka to help ease the acute fuel shortage in the debt-ridden island nation, which is battling its worst economic crisis. India extended an additional $500 million line of credit to Sri Lanka last month to help the neighboring country import fuel as it struggles to pay for imports following a sharp fall in its foreign exchange reserves in recent days. devaluation of its currency and spiraling inflation. ,
India delivered around 40,000 metric tonnes of petrol to Sri Lanka on 23 May. Indian High Commission tweeted, “Powering Sri Lanka!!!! A consignment of 40,000 MT Diesel supplied under Indian Aid reached Colombo yesterday (Monday) evening.”
India and Sri Lanka on February 2, 2022 signed a USD 500 million loan agreement for the purchase of petroleum products.
With the economic crisis and foreign exchange crunch, an Indian credit line of 500 million for fuel imports has provided a lifeline to the island nation, which is currently facing its worst economic crisis since gaining independence in 1948. Used to be.
People have been troubled for months due to long lines for fuel, cooking gas, essential items in short supply and hours of power cuts. A total of 400,000 metric tonnes of different fuels have been supplied with Indian assistance in March and April.
In keeping with India’s ‘neighbourhood first’ policy, New Delhi has provided assistance of over USD 3.5 billion this year alone to the people of Sri Lanka to help them overcome their current difficulties.
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