India has provided around $5 billion worth of assistance to Sri Lanka, including a Line of Credit (LoC) worth $1 billion to procure food, medicines and essential items, and another LoC worth $500 million to purchase petroleum products.
India has also delivered over 270,000 metric tonnes of diesel and petrol to Sri Lanka since mid-March.
Additionally, India has provided a financial package of $3.8 billion to Sri Lanka to encounter the economic crisis, including a $500 million credit facility to import fuel.
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In the last 3 months, India has extended assistance of about $2.5 billion to Sri Lanka, including credit facilities for fuel and food.
Since mid-March, over 270,000 metric tonnes of diesel and petrol have been delivered to Sri Lanka.
Explained: What India is doing to help Sri Lanka in crisis
India has been playing a significant role in helping Sri Lanka during its worst-ever economic crisis, providing nearly $4 billion in food and financial assistance to the island nation. Despite China's growing ties with the island nation, India has gone over and above to help the country's collapsing economy, with India providing $1.5 billion for imports and $3.8 billion in the form of currency swaps and credit lines. Despite China's growing ties, India has been able to provide a helping hand to Sri Lanka, but Beijing has only provided $75 million in humanitarian aid and is currently holding debt restructuring talks with the cash-strapped nation.
Explained: India's big role in helping Sri Lanka tide over its worst ...
In February, as the foreign currency shortage became severe, Sri Lanka signed a $500 million credit facility with India to import fuel . This was a part of the financial package India agreed to provide to Sri Lanka to encounter the economic crisis.
China, India, and Sri Lanka’s Unprecedented Economic Crisis
When Sri Lanka was struggling to find a way out of the economic crisis, it turned to New Delhi for help and the Narendra Modi-led government responded with financial aid and more.
India has provided around $5 billion worth of assistance to Sri Lanka of which $3.8 billion has been provided in 2022.
Explained: How India is rebuilding ties with Sri Lanka amid crisis and ...
April 20, 2022 Posted by India Briefing Written by Naina Bhardwaj Reading Time: 5 minutes. As the economic crisis in Sri Lanka deepens, further spilling over into civil unrest and…
How Does the Crisis in Sri Lanka Impact India?