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Saturday October 23rd, 2021
Economy

Sri Lanka Finance Minister, India foreign secy discuss taking forward joint projects

ECONOMYNEXT – Visiting Indian Foreign Secretary Harsh Vardhan Shringla had discussed strengthening economic ties and taking forward joint projects at a meeting with Sri Lanka’s Finance Minister Basil Rajapaksa.

Strengthening bi-lateral ties and facing the fallout of Coronavirus “was discussed at length” at the meeting, a Finance Ministry statement said.

Minister Rajapaksa had said Sri Lanka valued the assistance given by India as a regional power and neigbhour, the statement said.

Secretary Shringla had said India was ready to provide economic support to Sri Lanka during this time and that he will also look into encourage investment into the country.

The Indian High Commission in Colombo said Shringla had discussed advancing post-pandemic economic and commercial ties “by taking forward joint projects of mutual benefit.”

Sri Lanka has sought a 500 million US dollar credit line for oil imports from India and also 400 million US dollar swap from the Reserve Bank of India.

Shringla visited a tank farm in Sri Lanka’s Trincomallee port which has been leased to Indian Oil Corporation.

India is also financing Sri Lanka’s railways through a credit line. (Colombo/Oct05/2021)

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