India to Provide $55 Million Economic Support to Sri Lanka

While Sri Lankan farmers waited for fertilizer to start the Yala season, India decided to give Sri Lanka a $55 million Line of Credit (LOC) to procure urea.

"In response to an urgent request from the Government of Sri Lanka (GOSL), a LOC agreement between GOSL and India's Export-Import Bank was signed on Friday in the presence of Sri Lankan Prime Minister Ranil Wickremesinghe and Minister of Agriculture Mahinda Amaraweera. Senior officials from Sri Lanka and the Indian side were also present during the signing of the agreement," The Indian High Commission in Colombo said in a statement.

In line with Neighborhood First policy and as a sincere friend and partner of Sri Lanka, India has provided a wide range of support to the people of Sri Lanka in recent months.

The support from India comes with the economic assistance of $3.5 billion in order to help secure food, health, and energy security by supplying essential items like food, medicines, fuel, kerosene and etc for Sri Lanka.