INSUBCONTINENT EXCLUSIVE:
India has actually handed 75 guest buses to Sri Lanka as part of its help towards enhancing public transportation facilities in the
cash-strapped country.As part of its Neighbourhood First policy, India has actually extended multi-pronged assistance to Sri Lanka to help
the country tide over its worst financial and humanitarian crisis since its self-reliance from Great Britain in 1948
Supporting movement and availability in Sri Lanka, High Commissioner handed over 75 buses for usage by Transport Board
500 buses are being supplied to Sri Lanka through Indian assistance towards strengthening public transportation facilities, the Indian High
Commission stated in a statement.In a similar relocation, India handed 125 SUVs to the Sri Lanka Police under a line of credit in December
to support the island nation and assist it attend to the serious mobility limitation concerns faced by the authorities, due to the
non-availability of vehicles.The Sri Lankan government in May in 2015 stated a financial obligation default on over $51 billion in the
foreign loan-- an initially in the countrys history.Extending a much-needed lifeline to a neighbour in requirement, India offered financial
assistance of almost $4 billion to Colombo throughout the year
In January, India announced a $900 million loan to Sri Lanka to build up its diminished foreign reserves as the financial crisis started to
unfold.Later, it offered a $500 million line of credit to Sri Lanka to fund the countrys fuel purchases
The line of credit was later broadened to $700 million due to the sheer gravity of the situation.The Indian credit limit since early 2022
have actually been in usage to import basics and fuel after street protests appeared due to serious scarcities of essentials.Source -
This short article first appeared/also appeared in https://adaderana.lk
