India promises further support

The Indian High Commission yesterday reiterated India’s commitment to Sri Lanka’s early economic recovery and growth.

Referring to recent media reports regarding India suspending further financial support, Eldos Mathew Punnoose Head – Press, Information & Development Cooperation at the Indian High Commission, has issued the following statement: “We would like to emphasise that India has extended unprecedented bilateral assistanc, amounting close to USD 4 billion, this yea, for ameliorating the difficulties faced by the people of Sri Lanka. India has also advocated to other bilateral and multilateral partners supporting Sri Lanka expeditiously in its current economic difficulties. We have also noted the conclusion of a Staff-Level Agreement between the IMF and the Government of Sri Lanka. Its further approval within the IMF is contingent upon, inter alia, on Sri Lanka’s debt sustainability. We continue to be supportive of Sri Lanka in all possible ways, in particular by promoting long-term investments from India in key economic sectors in Sri Lanka for its early economic recovery and growth.

In addition our bilateral development cooperation projects in Sri Lanka, which cumulatively total about US$ 3.5 bn, are ongoing. Sri Lankans also continue to avail of scholarships for higher education and skills training in premier Indian institutions. 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.”