India Committed To Help Lanka's Economic Crisis: President Murmu

While congratulating Sri Lankan President Ranil Wickremesinghe on his election, India’s newly elected President Droupadi Murmu said that India was dedicated to helping the people of Sri Lanka overcome the difficulties brought on by the economic crisis.

President Murmu underlined India’s philosophy of putting its neighbours first in a letter to Sri Lankan President Wickremesinghe.

According to its “Neighborhood First” policy, India, Sri Lanka’s near neighbour, has pledged to help its citizens overcome the difficulties caused by the economic crisis.

In the letter, President Murmu expressed his hope that the two nations’ long-standing bilateral relationship, built on a common history and close interpersonal links, would continue to grow.

“I want to express my gratitude for your kind message of congratulations on my election as President of India. I want to use this opportunity to express my congratulations on being elected as Sri Lanka’s 8th President by the Sri Lankan Parliament “It was the ad.

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Additionally, she expressed her best wishes for the Sri Lankan president as he took on the “responsibilities and difficulties” of his position at a “critical moment for Sri Lanka.”

Earlier, Ranil Wickremesinghe, the president of Sri Lanka, congratulated Droupadi Murmu on becoming the 15th president of India and said he was looking forward to cooperating closely with her in this regard.

The government and people of Sri Lanka join me in sending sincere congratulations on your assumption of office as the President of the Republic of India, Her Excellency Smt. Droupadi Murmu, President of the Republic of India, said Wickremesinghe in a statement.

He said that Murmu’s selection to the position of President of India, which he called “one of the biggest democracies,” is evidence of the public and the government’s faith in her character and political savviness.

He referred to the friendship between India and Sri Lanka, saying that the two nations “enjoy warm and long-standing relations that stemmed from people-to-people interactions over millennia.

I am glad that the time-tested bonds of friendship between the two nations continue to be reinforced through ever-growing cooperation and support in many spheres of strategic interests that we share.”

He said, “Your leadership gives new impetus to our collaborative efforts to foster and deepen the friendly relationships we share. I look forward to working closely with you toward this goal.

India has consistently offered assistance to the island nation drowning in debt as part of its “Neighborhood First” policy. In the last ten years, India has given Sri Lanka 8 Lines of Credit (LOCs), totalling USD 1,850.64 million.

In response to a written query from DMK Lok Sabha MP S Ramalingam, External Affairs Minister S Jaishankar stated that the “Government of India has extended 8 Lines of Credit (LOCs) to Sri Lanka amounting to USD 1,850.64 million in sectors including railways, infrastructure, defence, renewable energy, petroleum, and fertilizers in the past 10 years.”

“According to the SAARC Framework, India offered Sri Lanka a $400 million currency exchange in January 2022 and postponed further Asian Clearing Union (A.C.U.) payments until July 6, 2022. Sri Lanka received a 500 million dollar line of credit to purchase petroleum from India, “said the minister.

Over 25 tons of medicines and medical supplies supplied by the Indian government and people over the last two months are estimated to be worth close to SLR 370 million. This is in addition to the approximately 3.5 billion USD in economic aid and the provision of additional humanitarian commodities, including rice, milk powder, and kerosene.

The government of India has been providing continuous help to the people of Sri Lanka in various ways, including financial aid, support with foreign exchange, material supply, and many more.

These initiatives demonstrate the relevance of Prime Minister Narendra Modi’s “Neighborhood First” policy prioritizes interpersonal interaction.

India is becoming a more reliable and advantageous partner for Sri Lanka. India is providing the island country with essential goods, in addition to aid amid the epidemic and the fertilizer shortage.

Since February, there has been a fuel scarcity in Sri Lanka, resulting in lengthy daily power outages. Sri Lanka is now experiencing severe food and energy shortages, requiring the nation to ask for assistance from its neighbours.

Foreign currency shortages brought on by a ban on travel during the COVID-19 epidemic are blamed for the slump. The nation cannot purchase enough petrol and gasoline, and the populace also lacks access to necessities.