India has converted $780 million in loans into grants for Sri Lanka, including $390 million for completed projects and $211 million for ongoing initiatives, according to the High Commissioner of India to Sri Lanka ,Santosh Jha.

This move is aimed at easing Sri Lanka's debt burden, with further grants and projects in the pipeline. 

Recent grants include $20.66 million for credit-related projects, $65 million for Kankesanthurai Harbour rehabilitation, and $14.9 million for railway signaling.