India and Sri Lanka have agreed to a four-pronged package comprising initiatives on food and energy security to help mitigate Sri Lanka\u2019s economic crisis.<\/p>\n
1).<\/strong> Urgent food and health security package<\/strong> that includes an extension of a line of credit to cover the import of food, medicines and other essential items from India to Sri Lanka<\/p>\n 2)<\/strong>. Energy security package<\/strong> that includes a line of credit to cover the import of fuel from India, and early modernisation of the Trincomalee Tank Farm;<\/p>\n 3).<\/strong> Offer of a currency swap<\/a><\/strong><\/span> to help Sri Lanka address its balance of payment issues;<\/p>\n 4).<\/strong> Facilitation of Indian investments<\/strong> in different sectors that would contribute to growth and expand employment<\/p>\n One,<\/strong><\/em> The Rajapaksa Government has favoured Chinese companies on projects that it expedites. For instance, the projects to develop oil infrastructure in Trincomalee <\/strong>have been languishing till now. Three,<\/strong><\/em> India has also delayed a decision on a request for a debt moratorium waiver to help Sri Lanka tide over its economic problems during the pandemic.<\/p>\n Four,<\/strong> <\/em>recently, Sri Lanka cancelled an MoU signed with India and Japan for the East Coast Terminal project<\/strong>. India protested the cancellation though it later agreed to the West Coast Terminal being developed by the Adani group.<\/p>\n Source:<\/strong> This post is based on the article \u201cIndia finalises cooperation plan to revive Covid-hit Sri Lanka economy<\/strong>\u201d & \u201cFour-pronged plan on Sri Lanka crisis\u201d<\/strong> published in Indian Express<\/strong> and The Hindu<\/strong> on 4th<\/sup> Dec<\/strong> 2021<\/strong>, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":" What is the news? India and Sri Lanka have agreed to a four-pronged package comprising initiatives on food and energy security to help mitigate Sri Lanka\u2019s economic crisis. What is the four-pronged package that has been finalised between India & Sri Lanka? 1). Urgent food and health security package that includes an extension of a… Continue reading India finalises cooperation plan to revive Covid-hit Sri Lanka economy<\/span><\/a><\/p>\n","protected":false},"author":10316,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,9],"tags":[10548,10547,10500],"class_list":["post-150940","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-public","tag-india-and-neighborhood-relations","tag-india-sri-lanka","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704748810},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/150940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10316"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=150940"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/150940\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=150940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=150940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=150940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What are the recent economic issues between India and Sri Lanka?<\/strong><\/h5>\n
\nTwo,<\/strong><\/em> Sri Lanka\u2019s request for a $1 billion swap has not yet materialised.<\/p>\n