India and Sri Lanka Exchange $350M Rupee Credit Agreements After Cyclone

India, Sri Lanka exchange agreements on INR‑denominated Lines of Credit worth USD 350 million

Colombo, Aug 5

The agreements were exchanged following a meeting between Foreign Secretary Vikram Misri and Sri Lankan President Anura Kumara Dissanayake in Colombo on Wednesday. During the meeting, the two sides reviewed key bilateral projects, including India-assisted development projects in Sri Lanka.

India's High Commissioner to Sri Lanka, Santosh Jha, and other officials were also present during the meeting.

"Foreign Secretary Shri. Vikram Misri called on President of Sri Lanka H.E Anura Kumara Dissanayake in Colombo. Discussions focused on issues of mutual interest and review of key bilateral projects, including India-assisted development projects in Sri Lanka," the Indian High Commission in Sri Lanka posted on X.

"Following the meeting, both sides exchanged agreements on INR-denominated Lines of Credit for USD 350 mn, which form part of the USD 450 mn reconstruction package extended by 🇮🇳 in the wake of Cyclone Ditwah. The LoCs will support reconstruction, infrastructure development, and procurement requirements that arose in the aftermath of the cyclone," it added.

Earlier in the day, Misri met his Lankan counterpart Aruni Ranaraja and discussed ways to further deepen bilateral ties. During the meeting, the two officials discussed regional and global issues of mutual interest.

"Foreign Secretary Shri Vikram Misri met Sri Lankan Foreign Secretary Ms Aruni Ranaraja during his ongoing visit to Colombo. They discussed regional and global issues of mutual interest, and ways to further deepen close bilateral ties. India's Foreign Secretary reinforced Sri Lanka's Central role in India's Neighbourhood First Policy and in advancing Vision MAHASAGAR," the Indian High Commission in Sri Lanka posted on X.

Misri also held a meeting with Lankan Foreign Minister Vijitha Herath in Colombo, where both sides reviewed ongoing cooperation across priority sectors.

"Foreign Secretary Shri Vikram Misri called on the Foreign Minister of Sri Lanka, Hon'ble Vijitha Herath, during his visit to Colombo. Ongoing cooperation in key priority areas was reviewed during the meeting," the Indian mission wrote on X.

India had announced a reconstruction package of USD 450 million to Sri Lanka in the aftermath of Cyclone Ditwah. It covered rehabilitation and restoration of road, railway and bridge connectivity; construction of destroyed and damaged houses; health and education sectors - in particular those that have been damaged by the cyclone; agriculture, including to address possible shortages in the short and medium term; and, better disaster response and preparedness.

— IANS