COLOMBO - India has told Sri Lanka it is committed to boosting investment in its debt-ridden neighbour, to help pull it from its worst economic crisis in seven decades, Foreign Minister Subrahmanyam Jaishankar said on Friday during a visit.
“India will encourage greater investments in the Sri Lankan economy, especially in core areas like energy, tourism and infrastructure,” Mr Jaishankar told reporters in the city of Colombo. India has told the global lender that it strongly supports Sri Lanka’s debt restructuring plan, with Sri Lanka owing about US$1 billion to its nearest neighbour.
“India decided not to wait on others but to do what we believe is right. We extended financial assurances to the IMF to clear the way for Sri Lanka to move forward.”