India assures continued support to SL

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The Government of India has reiterated its support for Sri Lanka, refuting certain media reports that India will not provide fresh financing for Sri Lanka.

Responding to the reports, the Indian High Commission in Colombo said, “We would like to emphasise that India has extended unprecedented bilateral assistance amounting close to USD 4 billion this year for ameliorating the difficulties faced by the people of Sri Lanka.”

India has also advocated other bilateral and multilateral partners support Sri Lanka expeditiously in its current economic difficulties. We have also noted the conclusion of a Staff Level Agreement between IMF and the 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 High Commission said.

In addition, our bilateral development cooperation projects in Sri Lanka, which cumulatively total about USD 3.5 billion, are on-going. Also, Sri Lankans also continue to avail of scholarships for higher education and skills training in premier Indian institutions. These aspects of our close and long-standing cooperation with Sri Lanka also contribute to the efforts for addressing Sri Lanka’s current economic difficulties,” the High Commission said.