Sri Lanka- India economic relations

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Loans

2017-21, 2022 first quarter

Sep 19, 2022: The Times of India

Colombo : With a total of $968 million in loans in four months of 2022, India has emerged as Sri Lanka’s largest bilateral lender, overtaking China in the process, a media report said. 
In the past five years from 2017-2021, China has been the largest bilateral lender to Sri Lanka as China disbursed $947 million, out of which $809 million was obtained as market borrowings from the China Development Bank, Daily Financial Times (FT) reported citing public finance. lk. 
It said the Asian Development Bank (ADB) has been the largest multilateral lender in the past five years and disbursed funds amounting to $610 million in 2021. 
India has disbursed $377 million and ADB has disbursed $360 million, which account for 76% of the total disbursements in the first four months of 2022, according to Daily FT. Meanwhile, at a UNGA Annual Joint Debate on the Reports of Peacebuilding Commission (PBC) and Peacebuilding Fund, (PBF), India’s Representative to the UN, Ruchira Kamboj said that India had provided nearly $4 billion in food and financial assistance to Sri Lanka. 
“We are continuing to help our good friend and neighbour Sri Lanka to ensure food security by providing nearly $4 billion in food and financial assistance during the past few months,” Kamboj said. 
ANI