India’s Lines of Credit to Sri Lanka has crossed US$ 3.2 billion so far, according to figures released by the Indian High Commission in Colombo.
The High Commission said that India and Sri Lanka enjoy a multi-faceted and multi-sectoral partnership.
In line with its ‘Neighbourhood First’ policy, Government of India’s assistance to the people of Sri Lanka is extended in various forms, including in implementation of various projects under concessional Lines of Credit. This assistance continues even in the current situation.
Till date, Lines of Credit worth about US$ 3.2 billion have been extended to Sri Lanka in diverse sectors including railways, infrastructure, defence, renewable energy, supply of petroleum, fertilizers, etc.
Separately, in March 2022, Government of India also extended a concessional Credit Facility of USD 1 billion to GOSL through the State Bank of India for supply of essential items like food, medicines, fuel, etc.
Yesterday, the High Commission handed over 125 SUVs manufactured by Mahindra and Mahindra Company of India. The 125 SUVs constitute the first batch of the planned supply of 500 vehicles for Sri Lankan law enforcement agencies and armed forces under an existing Line of Credit of US$ 100 mn extended by the Government of India to Sri Lanka sometime ago.
These vehicles with state of the art facilities will help address Sri Lanka’s requirements and augment capacities across the country, the Indian High Commission said.
The vehicles were handed over ceremonially by the High Commissioner of India to Sri Lanka, Gopal Baglay to Minister of Public Security, Tiran Alles in the presence of senior officials of the Ministry including Secretary to the Ministry of Public Security S. Hettiarachchi and Inspector General of Police Mr. C.D. Wickramarathne.