India promises to increase investment flows to Sri Lanka

"Conveyed our commitment to increase investment flows to Sri Lanka to hasten its economic recovery. Look forward to my discussions with the leadership tomorrow morning,"

Colombo: Visiting External Affairs Minister (EAM) S. Jaishankar has conveyed to his Sri Lankan counterpart about India’s commitment to increase investment flows to the financially-strapped southern neighbour to hasten its economic recovery.

“Conveyed our commitment to increase investment flows to Sri Lanka to hasten its economic recovery. Look forward to my discussions with the leadership tomorrow morning,” tweeted Indian EAM following his meeting with Sri Lanka’s Foreign Minister Ali Sabry on Thursday evening.

“A good meeting with Foreign Minister Ali Sabry and other ministerial colleagues this evening in Colombo. Discussed India-Sri Lanka cooperation in infrastructure, connectivity, energy, industry and health,” Jaishankar said.

Sri Lanka’s Foreign Minister also tweeted, “A pleasure to meet with S. Jaishankar, Minister of External Affairs of India in Colombo. Discussed strengthening the bilateral relationship between our nations, people-to-people contacts, trade and investment ties and appreciated India’s steadfast assistance for Sri Lanka.”

Jaishankar’s visit to the crisis-hit neighbour followed India‘s assurance given to the IMF to support the restructuring of Sri Lanka’s debts.

Undertaking to restructure debts specially from Sri Lanka’s major creditors — India, China and Japan — are a prerequisite to obtain IMF’s bridge loan of $2.9 billion — the much needed immediate relief for the debt-ridden country.

Earlier this week, Sri Lanka President Ranil Wickremesinghe informed the Parliament that debt restructuring talks with India and China were successful.

India’s EAM with a high profile delegation from the Ministry is on a two-day visit to Sri Lanka on January 19 and 20.