'No more support' - India's response to media report

COLOMBO (News 1st) - The Indian High Commission in Colombo on Tuesday (20) responded to concerns raised regarding a report on no further financial support from India.

We have seen the relevant media reports. We would like to emphasize that India has extended unprecedented bilateral assistance amounting close to USD 4 billion this year for ameliorating the difficulties faced by the people of Sri Lanka. India has also advocated to other bilateral and multilateral partners supporting Sri Lanka expeditiously in its current economic difficulties," said a spokesperson for the Indian High Commission.

"We have also noted the conclusion of a Staff Level Agreement between IMF and the Government of Sri Lanka. Its further approval within IMF is contingent upon, inter alia, on 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 spokesperson added.

The spokesperson noted that In addition bilateral development cooperation projects in Sri Lanka, which cumulatively total about US$ 3.5 bn, 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, added the spokesperson.