Current Affairs   »   International Current Affairs 2023   »   India emerges as Sri Lanka’s largest...

India emerges as Sri Lanka’s largest bilateral lender overtaking China

India becomes the largest bilateral lender for Sri Lanka and overtakes China. In four months of 2022, India has provided a total of 968 million US Dollars in loans to Sri Lanka. China has been the largest bilateral lender to Sri Lanka for the past five years from 2017-2021.

Bank Maha Pack includes Live Batches, Test Series, Video Lectures & eBooks

Key Points related to Bilateral Lender of Sri Lanka

  • Asian Development Bank (ADB) has been the largest bilateral lender in the past five years.
  • In 2021, a total of 610 million dollars were provided to Sri Lanka by the Asian Development Bank (ADB).
  • India has provided 4 billion dollars in food and financial assistance to Sri Lanka.
  • India handed 21,000 tonnes of fertilizers to Sri Lanka on August 2022.
  • Since the beginning of 2022, Sri Lanka is suffering from an economic crisis and the default of the government has made the situation worse.
  • The Country is indebted to foreign loans and is battling severe food and fuel scarcity.
  • The economic crisis has affected a large number of people in the country.
Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *