India Will Encourage Greater Investments In Sri Lankan Economy: EAM Pitches For RuPay, UPI In Colombo
External Affairs Minister S Jaishankar is in Columbo and conveyed India's commitment to increase investment flows to hasten Sri Lanka's economic recovery
New Delhi: External Affairs Minister S Jaishankar on Friday said that India will encourage greater investments in the Sri Lankan economy, especially in areas of energy, tourism and infrastructure. The statement comes after met Sri Lanka's top leadership and conveyed India's commitment to increase investment flows to hasten the debt-ridden island nation's economic recovery. Jaishankar landed in Columbo from the Maldives on the second leg of his two-nation tour.
"My primary purpose to visit Colombo is to express India's solidarity with Sri Lanka during these difficult moments. investments in Sri Lankan economy especially in areas of energy, tourism and infrastructure," Dr S Jaishankar said in Colombo, as per news agency ANI.
India has always supported the political and economic stability of Sri Lanka. India is a trustworthy partner that is prepared to go the extra mile when Sri Lanka feels the need, he emphasised, as per news agency PTI.
Full implementation of 13A and early conduct of provincial polls are critical for Sri Lanka's political and economic stability, Jaishankar added.
"Indian tourists are expressing positive sentiments for Sri Lanka by coming here. We can make this better by encouraging Indian tourists to make RuPay payments and use the UPI system," the External Affairs Minister mentioned in presence of Ali Sabry, Foreign Minister of Sri Lanka and Sri Lankan President Ranil Wickremesinghe
"No exaggeration to say that due to enormous support from India amounting to USD 4 billion worth of credit line for import of essentials, we were able to regain some measure of financial stability. I convey our profound gratitude PM Modi," Ali Sabry said, as per ANI.
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External Affairs Minister S Jaishankar on Thursday discussed cooperation in infrastructure, connectivity, energy, industry, and health with his Sri Lankan counterpart Ali Sabry.
"A good meeting with Foreign Minister Ali Sabry and other ministerial colleagues this evening in Colombo. Discussed India-Sri Lanka cooperation in infrastructure, connectivity, energy, industry and health," Jaishankar tweeted.
"Conveyed our commitment to increase investment flows to Sri Lanka to hasten its economic recovery," Jaishankar tweeted after his meetings, including with Ranil Wickremesinghe.
Conveyed our commitment to increase investment flows to Sri Lanka to hasten its
— Dr. S. Jaishankar (@DrSJaishankar) January 19, 2023
economic recovery.
Look forward to my discussions with the leadership tomorrow morning.@alisabrypc, @DeSiripala, @banduladr, @kehelia_r, @kanchana_wij, @amanugama_dilum, @tharakabalasur1
Sri Lanka, which is trying to secure a USD 2.9 billion bridge loan from the International Monetary Fund (IMF), was negotiating to get financial assurances from its major creditors - China, Japan, and India - which is the requisite for Colombo to get the bailout package.
The IMF bailout has been put on a halt as Sri Lanka pursues talks with creditors to meet the global lender’s condition for the facility.
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