‘Minister Basil will visit India soon to obtain $1bn for Sri Lanka’

‘Minister Basil will visit India soon to obtain $1bn for Sri Lanka’

Written by Pavani Hapuarachchi

15 Feb, 2022 | 7:39 am

COLOMBO (News 1st): Finance Minister Basil Rajapaksa is set to visit India in the coming weeks, to physically obtain funds worth $1 Billion, Sri Lanka’s Minister of Foreign Affairs, Prof. G. L. Peiris said on Monday (Feb. 14).

Whilst commenting on whether neighboring India will help Sri Lanka overcome its economic crisis, he noted “India has made a very positive contribution with regard to the economic crisis that Sri Lanka is facing today. We receive $2.4 Billion from India”.

Minister Peiris further pointed out that Sri Lanka expects a number of benefits such as large-scale investments, given the close ties between the economies of the two states, adding that about one-third of the total number of tourists visiting Sri Lanka comes from India.

According to Prof. Peiris, Sri Lanka is receiving $2.4 Billion from India, as a result of the fruitful discussions held by Finance Minister Basil Rajapaksa during his visit to India in December last year.

“In order to physically obtain the US $1 Billion we receive from India to purchase food and pharmaceutical drugs, Minister Basil Rajapaksa will have to go back to India in about two weeks time, to sign and complete the relevant agreements,” Minister Prof. G. L. Peiris further said.

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