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India remains supportive of Sri Lanka

The statement pointed out that its further approval within IMF was contingent upon, inter alia, Sri Lanka’s debt sustainability.

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Colombo: India said on Tuesday that it remains supportive of Sri Lanka as it battles its worst economic crisis since independence i 1948.

Commenting on media reports that India would offer no further financial support, the Indian High Commission here said that New Delhi had extended “unprecedented bilateral assistance amounting close to $4 billion this year for ameliorating the difficulties faced by the people of Sri Lanka.

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“India has also advocated other bilateral and multilateral partners supporting Sri Lanka expeditiously in its current economic difficulties. We have also noted the conclusion of a Staff Level Agreement between the IMF and the government of Sri Lanka.”

The statement pointed out that its further approval within IMF was contingent upon, inter alia, 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 statement said.
“In addition, our bilateral development cooperation projects in Sri Lanka, which cumulatively total about $ 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,” it said.

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