Sri Lanka Economic Crisis: India Approved Loan Up To $ 55 Million

Sri Lanka Economic Crisis: India has approved a loan of up to $ 55 million to Sri Lanka, which is facing an economic crisis.

India has once again played the role of a friend to save Sri Lanka, which is facing an economic crisis, from big trouble. India has approved a loan of up to $55 million for the import of fertilizers.

By taking this bold step, India has once again left its deep impact by reducing the influence of China on the southern country.

The Indian High Commission said on Friday that Sri Lanka, which is facing a severe economic crisis, has been given a maximum credit line to avoid a shortage of funds for the purchase of fertilizer to save it from the food crisis.

India gave a credit line of $ 5.5 million.

Sri Lanka will be able to import 65 thousand metric tonnes of fertilizer with a credit line of $ 55 million (about Rs 423 crore). So that he can provide the urgent need for the Yala season crop.

M.Sirivardena, Secretary, Ministry of Finance has signed an agreement on Exim Bank of India and the Dollar Credit Line.

Formation of two new ministries in Sri Lanka.

Meanwhile, Sri Lankan President Gotabaya Rajapaksa has announced the formation of two new ministries, including the Ministry of Investment, to deal with the severe economic crisis arising in the country.

The Ministry of Technology and Investment Promotion will encourage foreign investment and private sector investment.

China has praised India.

Let us tell you that China has praised India a few days ago for helping Sri Lanka, which is facing an economic crisis.

During a press conference, Chinese Foreign Ministry Spokesperson Zhao Lijian said, ‘China appreciates India for helping Sri Lanka.’

Lijian said that the Indian government has done a lot to help Sri Lanka. We appreciate those efforts.

In this sequence, China is ready to work with India and other international communities to help Sri Lanka and other developing countries.