India to send 5 more shipments of fuel, food and medicine to Sri Lanka till May
Star digital report
Sun Apr 3 2022 2:44 PM Last updated on: Sun Apr 3 2022 2:49 PM
Sri Lanka is struggling to pay for essential food and fuel imports, leading to huge shortages. Photo: Reuters
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Sri Lanka is struggling to pay for essential food and fuel imports, leading to huge shortages. Photo: Reuters
India will deliver five more shipments of fuel, food and medicine to its South Asian neighbor Sri Lanka until May, a senior diplomat has said.
Under a US$1 billion line of credit signed between the two countries, the first consignment of Indian rice is expected to arrive in Sri Lanka soon, the Indian High Commissioner to Sri Lanka told ANI. Gopal Bagley.
For all the latest news, follow the Daily Star’s Google News channel. “These facilities, negotiated and concluded within weeks, have proven to be the lifeline for the people of Sri Lanka at a time when import financing from Sri Lanka is difficult due to the balance of payments situation” , did he declare.
Since January this year, India has paid Sri Lanka more than 2.5 billion US dollars, reports our correspondent in New Delhi.
Bagley said four shipments totaling more than 150,000 tons of aviation fuel, diesel and gasoline have arrived in Sri Lanka since the two countries signed a $500 million line of credit in February.
In addition to the lines of credit, India provided a $400 million currency swap and a $500 million line of credit for fuel purchases by Sri Lanka.
India has also deferred payments due from the Central Bank of Sri Lanka to the Reserve Bank of India under the Asian Clearance Union for several hundred million dollars.