CURRENT AFFAIRS

Detailed explanation-1: -India provided assistance worth 3.8 billion dollars to Sri Lanka to tide over unprecedented economic crisis, says EAM S Jaishankar. External Affairs Minister Dr S.

Detailed explanation-2: -India has emerged as the top lender to Sri Lanka in 2022, disbursing USD 377 million in loans to the island nation as it grappled with an unprecedented political crisis and economic turmoil, according to the Verite Research think-tank.

Detailed explanation-3: -In order to strengthen Sri Lanka’s food, health and energy security, the Government of India extended a concessional loan of USD 1 billion to the Government of Sri Lanka, through the State Bank of India, on March 17, 2022.

Detailed explanation-4: -India emerged as the top bilateral lender to Sri Lanka in 2022 as the island nation declared bankruptcy and defaulted on its $51 billion foreign debt. Despite Lanka’s growing ties with China, New Delhi has helped Colombo tackle the unprecedented economic crisis.