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India has handed 125 SUVs to the Sri Lanka Police beneath a line of credit score as a part of its ongoing efforts to assist the cash-strapped island nation, and handle the intense mobility restriction points confronted by the police, resulting from non-availability of automobiles.
As a part of its ‘Neighbourhood First’ coverage, India has prolonged multi-pronged help to Sri Lanka over the past 12 months to assist the nation tide over its worst financial and humanitarian disaster, since its independence from Nice Britain in 1948.
The Indian Excessive Commissioner Gopal Baglay on Thursday handed over 125 SUVs to Sri Lanka’s Minister for Public Safety Tiran Alles for the Sri Lanka Police in an official ceremony.
Taking to Twitter, the Indian Excessive Fee in Sri Lanka mentioned that one other 375 SUVs might be dispatched to Colombo, beneath an current line of credit score.
“India’s Assist to Sri Lanka continues. The Excessive Commissioner ceremonially handed over 125 Mahindra SUVs to Hon. Min of Public Safety, Tiran Alles for Sri Lanka. Police 2day. Extra out of a complete 500 cutting-edge SUVs beneath an current Line of credit score coming quickly! Contract was signed earlier this 12 months,” it mentioned in a tweet.
Alles mentioned the Sri Lanka Police confronted critical mobility restriction points as a result of non-availability of automobiles, as fleet replenishments weren’t doable for the final three years.
The assist India supplied ranges from financial help of near $4 billion to assist safe Sri Lanka’s meals, well being and power safety by supplying important objects like meals, medicines, gas and kerosene.
Negotiating debt restructuring scheme
The 2 international locations are at present negotiating the essential debt restructuring scheme, a vital prerequisite for Sri Lanka, to shut the cope with the Worldwide Financial Fund.
Sri Lanka reached a staff-level settlement with the worldwide lender in September for a $2.9 billion bailout bundle for a interval of 4 years.
The Sri Lankan authorities in Could appointed worldwide authorized and debt advisors for debt restructuring after the nation declared its worldwide debt default for the primary time in historical past.
Sri Lanka is almost bankrupt and has suspended repaying its $51 billion overseas debt, of which it should repay $28 billion by 2027.
Sri Lanka, a rustic of twenty-two million folks, plunged into monetary and political turmoil earlier this 12 months because it confronted a scarcity of foreign currency.
On account of these components, the nation has been unable to afford key imports, together with gas, fertiliser and medication, resulting in serpentine queues.
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