(MENAFN- Trend News Agency)
As Sri Lanka grapples with a deepening economic crisis, the
Indian Embassy distributed food packets to the families who are in
need in Madawewa and Kirimetiyawa villages in the city of
Anuradhapura, Sri Lanka on Tuesday.
Taking to Twitter, Indian Embassy in Sri Lanka wrote,“India
distributed food packets to needy families in Madawewa and
Kirimetiyawa villages in sacred city of Anuradhapura.”
Ahead of the new year celebrations in Sri Lanka, 11,000 MT of
rice from India reached Colombo on Tuesday. According to the Indian
embassy in Sri Lanka, the rice reached Colombo on board the ship
Chen Glory.
New year in Sri Lanka is generally celebrated on April 13 or
April 14 and traditionally begins at the sighting of the new moon.
Over 16,000 MT of rice has been supplied by India under its
multi-pronged support to Sri Lanka in the past week alone, said the
embassy, adding that the supplies mark the special bond between
India and the island nation.
Notably, amid the economic crisis in Sri Lanka, India has
stepped forward to help the country by supplying fuel, vegetables,
daily ration items and medicines.
India has already supplied over 270,000 MT of fuel to Sri Lanka
till now and has earlier announced another USD 1 billion as a
credit to help shore up the sinking economy of the island
nation.
The USD 1 billion Line of Credit to Colombo will help in keeping
their food prices and fuel costs under check. Since January this
year, support from India to Sri Lanka has exceeded USD 2.5 billion.
In February, New Delhi provided a short-term loan of USD 500
million to Colombo for the purchase of petroleum products through
the Ministry of Energy and the Ceylon Petroleum Corporation on
behalf of the Government of Sri Lanka. In November 2021, India had
given 100 tonnes of nano nitrogen liquid fertilizers to Sri Lanka
as their government stopped the import of chemical fertilizers.
Besides, the Reserve Bank of India has extended a currency swap
of USD 400 million and deferred payments owed by the Central Bank
of Sri Lanka under the Asian Clearance Union worth several hundred
million dollars.
Sri Lanka is battling a severe economic crisis with food and
fuel scarcity affecting a large number of the people in the island
nation. The economy has been in a free-fall since the onset of the
COVID-19 pandemic, which has hit tourism.
Sri Lanka is also facing a foreign exchange shortage, which has,
incidentally, affected its capacity to import food and fuel,
leading to the power cuts in the country. The shortage of essential
goods forced Sri Lanka to seek assistance from friendly
countries.
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