India hands over 21,000 tonnes of urea to economic crisis-hit Sri Lanka
- IBEF
- August 23, 2022
India handed over 21,000 tonnes of fertiliser to Sri Lanka as part of a special aid package to help farmers in the country and strengthen bilateral collaboration for food security, the second such assistance in recent months to the crisis-hit island nation. Last month, 44,000 tonnes of Indian assistance totalling to US$ 4 billion in 2022.
The fertiliser would help ensure food security and benefit Sri Lankan farmers. It illustrates the benefits of tight connections with India as well as mutual trust and goodwill between India and Sri Lanka. In May, India informed Sri Lanka that it will send 65,000 metric tonnes of urea promptly in order to avoid disrupting the current Yala farming season in Sri Lanka.
Since January of this year, India has pledged roughly US$ 4 billion to debt-ridden Sri Lanka through loans, credit lines, and credit swaps. The annual cost of fertiliser imports in Sri Lanka is US$ 400 million. India's assistance includes close to US$ 3.5 billion in economic assistance to help safeguard Sri Lanka's food, health, and energy security by sending basic products such as food, medicines, fuel, kerosene, and other necessities.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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