India's economic assistance to Sri Lanka in 2022 stands close to USD 3 billion

Continuing with its objective of providing critical medical aid to Sri Lanka during the ongoing economic crisis in the country, India on Friday delivered over 760 kgs of 107 types of lifesaving medicines to the island nation.

This large consignment of drugs and other medical supplies is in response to the request from Teaching Hospital, Peradeniya. Shortage of essential supplies in the Teaching Hospital was noted by External Affairs Minister S Jaishankar during his visit to Sri Lanka in March, the Indian High Commission in Sri Lanka said in a statement.

The consignment, described as a gift from the people of India, was handed over by Indian High Commissioner in Sri Lanka Gopal Baglay to Sri Lankan Minister of Health Channa Jayasumana in Colombo.

The medical aid was delivered by Indian Naval Ship Ghariyal as part of Mission SAGAR IX, India's Ministry of Defence said in a separate statement.

The Indian Navy had earlier successfully concluded eight such missions since May 2020, deploying 10 ships to 18 Friendly Foreign Countries under Mission SAGAR (Security And Growth for All in the Region), the defence ministry added.

According to the Indian High Commission, more medical consignments in response to specific requests by various medical entities operating in all parts of Sri Lanka are also being scheduled from India. In addition, USD 200 million has been earmarked for the supply of medical supplies under the USD 1 billion credit line for essential commodities like food and medicine.

India has been extending expeditious support to Sri Lanka in the recent past, the High Commission said, adding that the overall economic assistance stands close to USD 3 billion in 2022 alone.

This includes:

* USD 1 billion credit line for essentials

* USD 500 million credit line for purchase of petroleum products

* USD 400 million bilateral currency swap and over USD 1 billion under the Asian Clearing Union Framework.

The USD 1 billion credit line is operational and 16,000 MT of rice has already reached Sri Lanka, inter alia other items, under this credit line, the Indian High Commission's statement added.