COLOMBO: India on Tuesday stated it has delivered yet another consignment of 40,000 metric tonnes of diesel to Sri Lanka to assist ease the acute gasoline scarcity within the debt-ridden island nation which is grappling with its worst financial disaster.
India prolonged a further $500 million credit score line to Sri Lanka final month to assist the neighboring nation import gasoline because it has been struggling to pay for imports after its overseas trade reserves plummeted sharply in latest instances, inflicting a devaluation of its foreign money and spiraling inflation.
India on Could 23 delivered round 40,000 metric tonnes of petrol to Sri Lanka.
“Powering #SriLanka !!!! A cargo of 40,000 MT of diesel provided below #Indian help reached #Colombo yesterday (Monday) night,” the Indian Excessive Fee tweeted.
India and Sri Lanka signed a $500 million Line of Credit score Settlement for the acquisition of petroleum merchandise on February 2, 2022.
With the financial disaster and the scarcity of foreign exchange, the Indian credit score line of 500 million for gasoline imports has supplied a lifeline to the island nation, which is at the moment experiencing its worst financial disaster since gaining independence in 1948.
With lengthy traces for gasoline, cooking gasoline, necessities briefly provide and lengthy hours of energy cuts, the general public has been struggling for months.
A complete of near 400,000 MT of varied sorts of gasoline have been delivered with Indian help in March and April.
In step with India’s ‘Neighborhood First’ coverage, New Delhi has prolonged this yr alone help price over $3.5 billion to the folks of Sri Lanka for serving to them overcome their present difficulties.