Indian Foreign Secy discusses expediting financial assistance to SL

Indian Foreign Secretary Dr. S Jaishankar has just concluded a detailed virtual meeting with Sri Lankan Finance Minister Basil Rajapaksa, where the financial assistance extended to Sri Lanka and the expediting of funds were discussed.

The virtual meeting was held today (15).

“We positively noted the extension of the USD 400 million swap facility and the deferred ACU settlement of USD 515.2 million. Discussed the early realisation of USD 1 billion term loan facility for essential commodities and of USD 500 million LoC for fuel purchase,” the Foreign Secretary mentioned in a tweet.

He further added that India will take up with other international partners initiatives to support Sri Lanka at this important juncture.

“Welcomed the progress on Trincomalee Tank Farm which will contribute to energy security. Considered projects and investment plans by India that would strengthen Sri Lankan economy,” the tweet said.

Additionally, Jaishankar mentioned that as a humanitarian gesture, an early release of of Indian fisherman was discussed as well and that India reaffirmed that India will be a steadfast and reliable partner of Sri Lanka.

During the meeting, Minister Rajapaksa recalled India’s longstanding cooperation with Sri Lanka and deeply appreciated the gestures of support. He also welcomed Indian investments in Sri Lanka in a number of important spheres including ports, infrastructure, energy, renewable energy, power and manufacturing and assured that conducive environment will be provided to encourage such investments.

The two Ministers agreed to remain in close touch for guiding mutually beneficial bilateral economic cooperation towards long-term economic partnership for shared progress and prosperity.