{"id":32550,"date":"2024-10-05T16:45:00","date_gmt":"2024-10-05T15:45:00","guid":{"rendered":"https:\/\/newstimers.com\/index.php\/2024\/10\/05\/india-came-forward-to-rescue-sri-lanka-from-economic-crisis-will-jaishankars-visit-change-the-fate-of-the-neighboring-country\/"},"modified":"2024-10-05T16:45:00","modified_gmt":"2024-10-05T15:45:00","slug":"india-came-forward-to-rescue-sri-lanka-from-economic-crisis-will-jaishankars-visit-change-the-fate-of-the-neighboring-country","status":"publish","type":"post","link":"https:\/\/newstimers.com\/index.php\/2024\/10\/05\/india-came-forward-to-rescue-sri-lanka-from-economic-crisis-will-jaishankars-visit-change-the-fate-of-the-neighboring-country\/","title":{"rendered":"India came forward to rescue Sri Lanka from economic crisis, will Jaishankar’s visit change the fate of the neighboring country?"},"content":{"rendered":"


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India has taken a big step to rescue Sri Lanka from the economic crisis. India on Friday announced a $20 million line of credit for Sri Lanka, which can be converted into grants under development assistance in future. This announcement was made by India’s Foreign Minister S. Jaishankar during his meeting with new President Anura Kumara Dissanayake in Colombo. The meeting was the first high-level contact between India and Sri Lanka after Marxist leader Dissanayake was sworn in as the Sri Lankan President.<\/p>\n<\/div>\n

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Even before Jaishankar’s visit, several important steps have been taken towards strengthening bilateral relations between India and Sri Lanka. Jaishankar said on the occasion that the credit line of $20 million will be used for seven major projects, which can be converted into grants if required. He expressed commitment to advance bilateral cooperation under India’s ‘Neighbor First’ policy. Jaishankar also held discussions with Sri Lankan Prime Minister Harini Amarasuriya and Foreign Minister Vijitha Harath. During this he mentioned the plan to provide 22 diesel engines to Sri Lankan Railways and proposed a grant of $61.5 million for the modernization of Kankasanthurai Port.<\/p>\n<\/div>\n

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Dissanayake praised India’s economic support, saying it is important in realizing Sri Lanka’s development vision and fulfilling the aspirations of the people. They also discussed the possibilities of exporting renewable energy, which could help reduce production costs in Sri Lanka. During the discussion, Jaishankar also emphasized on facilitating Indian investments and creating employment in Sri Lanka. He said the Indian government stands ready to help in training and capacity building to meet the needs of Sri Lanka.<\/p>\n<\/div>\n

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Discussing debt restructuring efforts, Jaishankar pointed out that India has played a key role in supporting the economic stability of Sri Lanka and has been the first country to provide assistance to the International Monetary Fund (IMF). He also discussed security and defense matters, saying \u201cthe interests of India and Sri Lanka are closely linked,\u201d which is beneficial to both countries and contributes to the stability of the region.<\/p>\n<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

India has taken a big step to rescue Sri Lanka from the economic crisis. India on Friday announced a $20 million line of credit for Sri Lanka, which can be converted into grants under development assistance in future. This announcement was made by India’s Foreign Minister S. 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