India has so far supplied a total of 2,70,000 metric tonnes of fuel to Sri Lanka to overcome the power crisis and economic crisis.
India has offered a line of credit to Sri Lanka to deal with the economic crisis. Under this, India has so far supplied a total of 2,70,000 metric tonnes of fuel to Sri Lanka to overcome the power crisis and economic crisis. A consignment of 36,000 metric tonnes of petrol and 40,000 metric tonnes of diesel has been dispatched to the island nation in the last 24 hours. Explain that this consignment is a part of 500 million US oil line of credit given by India to Sri Lanka.
The Indian High Commission in Colombo gave this information through a tweet. “Indian Credit Line for Fuel !!! A consignment of 36,000 MT Petrol and 40,000 MT Diesel was delivered to #Sri Lanka in the last 24 hours. The total supply of various fuel types under Indian assistance is now over 270,000MT ”
#Indian credit line for fuel at work!!! One consignment each of 36,000 MT petrol and 40,000 MT diesel was delivered to #SriLanka in the last 24 hours. Total supply of various types of fuel under Indian assistance now stands at more than 270,000 MT. pic.twitter.com/QMO8fftnXA
— India in Sri Lanka (@IndiainSL) April 6, 2022
economic crisis in sri lanka
Sri Lanka has started facing pressure on the economic front with the country facing rising debt, high inflation, non-availability of essential commodities, energy crunch etc. Sri Lanka is facing an emergency like situation. The country’s economy has been in free fall since the start of the COVID-19 pandemic.
The currency of Sri Lanka is devaluing due to the corona virus epidemic, with a sharp reduction in tourism income.
India’s economic support to Sri Lanka
In addition to the US 500 million US oil line of credit to Sri Lanka, India has also announced an additional US 1 billion line of credit to revive the sinking economy. The US 1 billion credit line aims to level fuel and food costs in the country.
Last month, Sri Lankan President Gotabaya Rajapaksa met Prime Minister Narendra Modi and briefed him on “the initiatives being taken by both countries to enhance bilateral economic cooperation, and the support extended by India to Sri Lanka’s economy”. thanked for it.” Citing the ‘Neighbourhood First’ policy, PM Modi assured all possible help to former Sri Lankan Finance Minister Basil Rajapaksa, who has visited India twice in recent months.
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