World News | India Proposes $450 Million Assistance Package to Rebuild Sri Lanka Following Cyclone Ditwah
Get latest articles and stories on World at LatestLY. External Affairs Minister S Jaishankar on Tuesday said India has already delivered around 1,100 tonnes of relief material to Sri Lanka under Operation Sagar Bandhu and has proposed a USD 450 million assistance package to support the country's recovery following cyclone Ditwah.
Colombo [Sri Lanka], December 23 (ANI): External Affairs Minister S Jaishankar announced on Tuesday that India has proposed a comprehensive USD 450 million assistance package to support Sri Lanka's reconstruction efforts following Cyclone Ditwah.
The announcement follows the successful completion of the immediate humanitarian phase under Operation Sagar Bandhu, India's rapid response to the crisis.
Speaking in Colombo as a special envoy of Prime Minister Narendra Modi, Jaishankar emphasised India's commitment to its neighbour during a uniquely challenging period, saying "the letter from PM Modi that I handed over builds on our first responder role and commits a reconstruction package of USD 450 million to Sri Lanka."
Jaishankar detailed the scale of the initial relief efforts, noting that the operation "delivered around 1100 tonnes of relief material" and "about 14.5 tonnes of medicines and medical equipment were also provided."
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Highlighting New Delhi's continued engagement with Colombo, the Jaishankar said PM Modi has directed officials to work closely with the Sri Lankan government to address rebuilding priorities. "Recognising the urgency of rebuilding, PM Modi directed that we now engage with the Sri Lankan government to address their priority in that regard," Jaishankar said.
He outlined the proposed assistance package, stating, "The assistance package that we have proposed is worth USD 450 million. It will include USD 350 million in a Concessional line of credit and USD 100 million in grants." Jaishankar stated.
The USD 450 million package is currently being "finalised in close consultation with the government of Sri Lanka" to ensure the funds are directed toward the most critical infrastructure and recovery needs.
This latest move reaffirms India's "Neighbourhood First" policy, positioning New Delhi as the first responder and a steady partner in Sri Lanka's path to stability.
Beyond immediate relief and reconstruction, Jaishankar underlined India's intention to support Sri Lanka's economic recovery through sustained engagement. "Let me assure you that we will continue to encourage tourism traffic from India in that regard," he said, pointing to tourism as a key driver for Sri Lanka's economy.
He also highlighted the role of Indian investments, noting, "An increase in foreign direct investment from India can also boost your economy at a critical time."
Acknowledging the challenges faced by Sri Lanka, Jaishankar said the country was once again under pressure just as it was emerging from past difficulties. "We fully recognise that this is a challenging period for Sri Lanka. Just as it was recovering from the economic crisis of 2022, this natural disaster created new difficulties," he said.
Jaishankar landed in Colombo on Monday evening and was received by Deputy Minister of Tourism Ruwan Ranasinghe. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)