India extends critical forex support of over $ 900 m to SL
India has extended over $ 900 million in facilities to help
Sri Lanka get over its serious foreign reserve crisis.
Indian High Commission said that the financial assistance
includes $ 400 million currency swap and $ 500 million that was deferred under
the Asian Clearing Union settlement framework.
“High Commissioner met Governor of Central Bank of Sri Lanka
and expressed India’s strong support to Sri Lanka in the wake of Reserve Bank
of India (RBI) extending over $ 900 million facilities over the last week,”
Indian High Commission in Sri Lanka said in a tweet.
Separately Central Bank Governor Nivard Cabraal said India’s High Commissioner in Colombo during a meeting yesterday has confirmed support to Sri Lanka.
“Had an excellent discussion with Indian High Commissioner
to SriLanka HE Gopal Baglay at my office this morning where he confirmed the SAARC SWAP by RBI and other forms of bilateral cooperation,” Cabraal tweeted
yesterday.
“The $ 400 million currency swap is among one of the four
pillars of bilateral economic cooperation identified during Finance Minister
Basil Rajapaksa’s visit to India in December last year,” sources said.
Critical infusion of $900 million is the manifestation of
India’s continued support to Sri Lanka.
External Affairs Minister Dr. S. Jaishankar earlier this
month tweeted that India will support Sri Lanka during these difficult times
after the phone call with Foreign Minister Prof. G.L Peiris on 6 January.
Sources said other pillars of support worked out during Basil Rajapaksa’s visit next week are under
progress.
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