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India denies reports of stoppage of financial aid to Sri Lanka

NEW DELHI: The Indian Excessive Fee in Colombo on Tuesday denied media reviews that New Delhi has determined to not lengthen any additional monetary assist to Sri Lanka.

In a collection of tweets, the Excessive Fee mentioned: “We proceed to be supportive of Sri Lanka in all potential methods, particularly by selling long run investments from India in key financial sectors in Sri Lanka for its early financial restoration and development.

“We have now seen the related media reviews. We want to emphasize that India has prolonged unprecedented bilateral help amounting near $4 billion this 12 months for ameliorating the difficulties confronted by the individuals of Sri Lanka.

“India has additionally advocated to different bilateral and multilateral companions supporting Sri Lanka expeditiously in its present financial difficulties. We have now additionally famous the conclusion of a Employees Level Settlement between IMF and Authorities of Sri Lanka. Its additional approval inside IMF is contingent upon, inter alia, on Sri Lanka’s debt sustainability.

“In addition to our bilateral development cooperation projects in Sri Lanka, which cumulatively total about $3.5 billion, are ongoing.”

The Excessive Fee additional mentioned that Sri Lankans additionally proceed to avail of scholarships for increased training and expertise coaching in premier Indian establishments.

“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,” it mentioned on a tweet.

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