India to provide additional $500 Mn for fuel – GL

India to provide additional $500 Mn for fuel – GL

India to provide additional $500 Mn for fuel – GL

Written by Teena Marian

21 Apr, 2022 | 8:43 am

COLOMBO (News 1st); India will provide an additional $500 million in financial assistance to Sri Lanka for it to buy fuel, Sri Lanka’s foreign minister told reporters on Wednesday (20), adding Bangladesh was also willing to postpone a $450 million in swap repayments, reported Reuters.

“Assistance by the IMF will take about six months to come to us and it will come in tranches,” Sri Lankan Foreign Minister G. L. Peiris said. “During the intervening period, we need to find funds to keep our people supplied with essentials.”

The Foreign Minister had also noted that India has already supported Sri Lanka with USD 2.5 Billion.

In addition, Sri Lanka is continuing talks with China and is also expecting to seek the assistance of Japan, UAE, Oman, and Qatar.

The Chinese Embassy in Sri Lanka in a tweet said that the Chinese Foreign Ministry & International Development Cooperation Agency announced that China will provide emergency humanitarian assistance to Sri Lanka to help its people overcome current difficulties.

Details of the aid will be released in the coming days, it added.

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