India Backs Sri Lanka's Economic Revival with Long-Term Investments

COLOMBO (News 1st); India said that will continue to support Sri Lanka’s economic recovery including by promoting long-term investments in the country's key economic sectors.

The Indian External Affairs Ministry in a statement said that the Official Creditor Committee for Sri Lanka signing the Memorandum of Understanding (MoU) on debt restructuring on 26 June 2024, is a  milestone that demonstrates the strong progress made by Sri Lanka in stabilizing its economy and moving towards reform and growth.

"As one of the Co-Chairs of the OCC, along with France and Japan, India has been steadfast in its commitment to the stabilization, recovery and growth of the Sri Lankan economy. This was also demonstrated by India’s unprecedented financial support of USD 4 billion to Sri Lanka. India was also the first creditor nation to convey financing assurances to IMF which paved the way for Sri Lanka to secure the IMF programme," it added.