Worst financial disaster: ‘India ready to go the additional mile’, Jaishankar assures debt-ridden Sri Lanka | India Information

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NEW DELHI: As Sri Lanka battles its worst financial disaster in seven many years, India on Friday advised Sri Lanka that it’s dedicated to spice up funding in its debt-ridden neighbour to hasten its financial restoration.
On his two-day go to to the island nation, exterior affairs minister S Jaishankar expressed India’s solidarity with the island nation throughout tough occasions. He assured them of higher investments to assist the nation’s financial situation.
Whereas holding talks with this Sri Lankan counterpart Ali Sabry, Jaishankar assured India’s cooperation throughout the financial spectrum.
“India will encourage higher investments in Sri Lankan financial system particularly in areas of vitality, tourism and infrastructure” he mentioned.
He additional added, “India is dedicated to go the additional mile when Sri Lanka feels the necessity.”
“Conveyed our dedication to extend funding flows to Sri Lanka to hasten its financial restoration,” Jaishankar mentioned on Twitter later within the night.
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Sri Lanka later thanked India for the beneficiant help of a USD 3.9 billion credit score line final yr and the assurances given to the IMF to restructure the nation’s debt.
“It was my privilege to welcome my pal Hon EAM of India Dr S. Jaishankar in Colombo. I thank him for the beneficiant help of the USD 3.9B credit score line final yr and the assurances given to the IMF to restructure the debt. Sri Lanka is lucky to have caring and thoughtful buddies!” Sabry tweeted on Friday.

On Friday, he’ll meet Sri Lanka’s president and prime minister.
Through the go to, the neighbours are additionally anticipated to signal a Memorandum of Understanding for a renewable energy undertaking protecting three islands in Sri Lanka’s north, sources have mentioned.
The nation of twenty-two million has grappled with challenges over the previous yr starting from a scarcity of overseas forex to runaway inflation and a steep recession, in its worst such disaster since independence from Britain in 1948.
(With inputs from companies)

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