Photo used for representation purpose only. The International Monetary Fund (IMF) has confirmed receiving India’s written financing assurance in support of Sri Lanka’s economic revival, Reuters news agency reported, while Sri Lanka has expressed hope of completing talks on debt restructuring in six months’ time. “We confirm that India has indicated to the IMF management … Read more
India has handed 125 SUVs to the Sri Lanka Police under a line of credit as part of its ongoing efforts to support the cash-strapped island nation, and address the serious mobility restriction issues faced by the police, due to non-availability of vehicles. As part of its ‘Neighbourhood First’ policy, India has extended multi-pronged assistance … Read more
Sri Lanka, reeling under an economic crisis following Covid and mounting debt due to heavy borrowing from China, has reached out to India to boost its sagging economy with Finance Minister Basil Rajapaksa undertaking a visit to India in near future. The Lankan Finance Minister’s visit is meant to not only secure loans but also … Read more
NEW DELHI: India is working on a plan to offer $50 million Line of Credit (LoC) to Sri Lanka in the defence sector –– the first such gesture towards the Southern neighbour as the two sides decided to expand defence and security partnership at Saturday’s summit to stabilise the Indian Ocean Region and the Bay … Read more