India becomes crisis-hit Sri Lanka's top lender
“It demonstrates benefits to people from close ties with #India and mutual trust and goodwill between #India and #Sri...
Withloans totalling $968 million, India has become the largest lender to crisis-hit Sri Lanka,surpassing China which has been the country's top bilateral lender, reported India Today.
From years 2017 to 2021, China has lent Sri Lanka $947 million. Out of this amount, the country borrowed $809 millionfrom the China Development Bank.
China said that theAsian Development Bank (ADB) wasthe largest multilateral lender for Sri Lanka over the previous five years because it disbursed $610 million in 2021.
Reportedly, in the first four months of 2022,India has disbursed $377 million and ADB has disbursed $360 million.
India’s Permanent Representative to the UN, Ruchira Kamboj claimedat a UNGA Annual Joint Debate on the Reports of Peacebuilding Commission (PBC) and Peacebuilding Fund (PBF) that the country had provided nearly $4 billion infinancial assistance to its neighbour.
Among other things, India provided21,000 tonnes of fertiliser to Sri Lanka.
The High Commission of India tweeted that before this,44,000 tonnes had been supplied under Indian support.
“It demonstrates benefits to the people from close ties with #India and mutual trust and goodwill between #India and #Sri Lanka,” added the High Commission of India.