How India is helping Sri Lanka amid economic crisis

India handed over a consignment of 40,000 MT of diesel under Indian assistance through the Line of Credit of USD 500 million.

Image credit: Reuters

Colombo: India on Saturday delivered 40,000 MT of diesel to Sri Lanka to help ease the power crisis in the island country which is witnessing acute power cuts. A part of the US 500 million oil line of credit (LoC) extended by India to Sri Lanka, this is the fourth consignment of fuel delivered from India to Sri Lanka under the LoC.

Further, India has supplied around 200,000 MT of fuel to the island nation over the last 50 days. "More fuel supplies delivered by #India to #SriLanka! A consignment of 40,000 MT of diesel under #Indian assistance through Line of Credit of $500 mn was handed over by High Commissioner to Hon`ble Energy Minister Gamini Lokuge in #Colombo today," tweeted India High Commission in Colombo (sic).

More fuel supplies delivered by #India to #SriLanka! A consignment of 40,000 MT of diesel under #Indian assistance through Line of Credit of $500 mn was handed over by High Commissioner to Hon'ble Energy Minister Gamini Lokuge in #Colombo today. (1/2) pic.twitter.com/j8S2IsOw29 — India in Sri Lanka (@IndiainSL) April 2, 2022

"This is the fourth consignment under the LoC. Fuel delivered from #IndianWells to people of #SriLanka in last 50 days is about 200,000T," it added (sic).

Meanwhile, Sri Lankan President Gotabaya Rajapaksa has declared a nationwide public emergency, after protestors angry over shortages of fuel and other essential commodities gathered outside his residence clashed with police. At least 10 people were injured including journalists. Sri Lanka`s economy has been in a free fall since the COVID-19 pandemic due to the crash of the tourism sector.