Jaishankar said that India will encourage more and more investment in Sri Lanka
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Expressing solidarity with Sri Lanka, which is facing a severe financial crisis, External Affairs Minister S Jaishankar on Friday said India will encourage more investment in Sri Lanka’s economy, especially in the energy, tourism and infrastructure sectors.
Expressing solidarity with Sri Lanka, which is facing a severe financial crisis, External Affairs Minister S Jaishankar on Friday said India will encourage more investment in Sri Lanka’s economy, especially in the energy, tourism and infrastructure sectors. He met Sri Lankan President Ranil Wickremesinghe on Friday morning. Jaishankar tweeted, “Met on President Ranil Wickremesinghe this morning. Underlined that my visit to Sri Lanka is a testimony to Prime Minister Narendra Modi’s ‘neighbourhood first’ commitment.
He said that my first objective of visiting Colombo is to express India’s solidarity with Sri Lanka in these difficult times. The External Affairs Minister said, “India will encourage greater investment in Sri Lanka’s economy, including in the energy, tourism and infrastructure sectors.” Willing to do a lot. Jaishankar said that India has decided that it will not wait for others, but will do what it thinks is right.
He said, “We have given financial assurance to the International Monetary Fund (IMF) to help Sri Lanka move forward.” The Foreign Minister said that we hope that this will not only strengthen Sri Lanka’s position, but It will also ensure that all bilateral creditors are treated equally. Significantly, Sri Lanka is currently facing a situation of serious economic crisis and it is hopeful of cooperation from India regarding debt restructuring. Sri Lanka is trying to get a $2.9 billion loan from the IMF.
It is trying to get financial assurance from major lenders like China, Japan and India. The IMF has put the bailout package on hold and is seeking financial assurances from Sri Lanka’s major creditors. At the same time, India provided a credit facility of US $ 3.9 billion last year to Sri Lanka, which is facing a serious economic crisis. Jaishankar said the path to economic recovery in Sri Lanka would be driven by large investments and he was sharing a clear message about this with the business community.
He said, “India will encourage more investment in the Sri Lankan economy, especially in the areas of energy, tourism and infrastructure. We would expect the Sri Lankan government to create a more business friendly environment.” He said that one of Sri Lanka’s most pressing challenges is energy security. The External Affairs Minister said that Sri Lanka has a lot of potential in the renewable energy sector and this can become a sustainable source of revenue. He said Trincomalee has the potential to emerge as an energy hub.
Jaishankar said, “In terms of support to Sri Lanka, India is ready to be its reliable partner in such steps. We agreed in principle to work on renewable energy infrastructure today and this will take our cooperation further.” Describing tourism as the lifeline of Sri Lanka, he said that Indian tourists coming to Colombo can practically generate a positive sentiment towards Sri Lanka. are expressing.
He said that India has always supported the political and economic stability of Sri Lanka. Jaishankar said that President Wickremesinghe briefed about the political situation. “We conveyed to him (Wickramsinghe) our view that full implementation of 13A and holding of early provincial elections are vital for political and economic stability in Sri Lanka,” the foreign minister said. It is in the interest of all sections of Sri Lankans.
Jaishankar handed over to President Wickremesinghe a letter inviting Prime Minister Narendra Modi to visit India at an early date to discuss how to facilitate a strong revival of Sri Lanka’s economy. Jaishankar, who arrived in Sri Lanka on Thursday on a two-day visit, met top leaders including his Sri Lankan counterpart Ali Sabri and President Ranil Wickremesinghe.
Sabri tweeted on Friday, “Honored to welcome India’s External Affairs Minister S Jaishankar to Colombo. I express my gratitude to the IMF for providing a line of credit of US$ 3.9 billion last year and for the assurance given to the IMF on debt restructuring. Sri Lanka is fortunate to have caring and warm friends.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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