Worst economic crisis: ‘India prepared to go the extra mile’, Jaishankar assures debt-ridden Sri Lanka | India News

NEW DELHI: As Sri Lanka battles its worst economic crisis in seven decades, India on Friday told Sri Lanka that it is committed to boost investment in its debt-ridden neighbour to hasten its economic recovery.
On his two-day visit to the island nation, external affairs minister S Jaishankar expressed India’s solidarity with the island nation during difficult times. He assured them of greater investments to help the country’s economic condition.
While holding talks with this Sri Lankan counterpart Ali Sabry, Jaishankar assured India’s cooperation across the economic spectrum.
“India will encourage greater investments in Sri Lankan economy especially in areas of energy, tourism and infrastructure” he said.
He further added, “India is prepared to go the extra mile when Sri Lanka feels the need.”
“Conveyed our commitment to increase investment flows to Sri Lanka to hasten its economic recovery,” Jaishankar said on Twitter later in the evening.

Sri Lanka later thanked India for the generous support of a USD 3.9 billion credit line last year and the assurances given to the IMF to restructure the country’s debt.
“It was my privilege to welcome my friend Hon EAM of India Dr S. Jaishankar in Colombo. I thank him for the generous support of the USD 3.9B credit line last year and the assurances given to the IMF to restructure the debt. Sri Lanka is fortunate to have caring and considerate friends!” Sabry tweeted.

On Friday, he will meet Sri Lanka’s president and prime minister.
During the visit, the neighbours are also expected to sign a Memorandum of Understanding for a renewable power project covering three islands in Sri Lanka’s north, sources have said.
The country of 22 million has grappled with challenges over the past year ranging from a shortage of foreign currency to runaway inflation and a steep recession, in its worst such crisis since independence from Britain in 1948.
(With inputs from agencies)

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