Home Business India announces huge investment in Sri Lanka ThePipaNews

India announces huge investment in Sri Lanka ThePipaNews

ThePipaNews

New Delhi: The Government of India has announced that it will continue to invest huge sums of money to help its neighboring country Sri Lanka.

In this context, the High Commissioner of India assigned to Sri Lanka said that India’s neighboring country is suffering from the worst economic crisis in the last seven decades, this year India has given financial assistance of about four billion dollars.

foreign news agencies Reuters reports According to the Indian official, support to Sri Lanka will continue.

According to reports, India is reluctant to provide fresh financial assistance to Sri Lanka as Sri Lanka’s battered economy begins to stabilize following an initial loan agreement with the International Monetary Fund (IMF).

According to the Indian affairs minister’s statement, India is currently running three and a half billion dollar development projects in Sri Lanka. Sri Lankan President Ranil Wickremesinghe also said that these projects should be completed as soon as possible.

Also, Sri Lankan President Ranil Wickremesinghe said in a statement that Sri Lanka will transform the Free Trade Agreement with India into a comprehensive economic and technological partnership.

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