India reiterates continued support for Sri Lanka through long-term investments

The High Commission of India in Colombo has responded to the media queries claiming that Sri Lanka would not receive any further financial support from India.

In a statement, the high commission said: “We have seen the relevant media reports. 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 to other bilateral and multilateral partners supporting Sri Lanka expeditiously in its current economic difficulties, it read further.

“We have also noted the conclusion of a Staff-Level Agreement between International Monetary Fund (IMF) and the Government of Sri Lanka. Its further approval within IMF is contingent upon, inter alia, on Sri Lanka’s debt sustainability.”

India reiterated that it will 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.

“In addition, India’s bilateral development cooperation projects in Sri Lanka, which cumulatively total about US$ 3.5 billion, are ongoing. 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.”