External Affairs Minister S. Jaishankar outlined India’s extensive support for Sri Lanka during its economic crisis, citing over $4 billion in aid. He emphasized the importance of mutual responsibilities between neighbors and reiterated India’s policy focus on strengthening bilateral relations through the Neighbourhood First Policy and the SAGAR initiative.
External Affairs Minister S. Jaishankar addressed the significant aid provided by India to Sri Lanka during a recent talk at Chatham House in London. The Indian government has assisted Sri Lanka in overcoming its economic crisis, which emerged in 2022 and led to subsequent political unrest. More than $4 billion was offered to help stabilize the nation through comprehensive financial support, reportedly exceeding the International Monetary Fund’s assistance package.
Jaishankar emphasized India’s historical commitment to providing support to Sri Lanka, suggesting that while India remains generous as a larger economy, mutual recognition of interests between neighboring countries is essential. He stated, “…just like we have a responsibility to our neighbours, I think our neighbours also have a responsibility to us,” highlighting the expectation of reciprocity alongside goodwill.
As the first foreign dignitary visiting Sri Lanka under the new National People’s Power government headed by Anura Kumara Dissanayake, Jaishankar reaffirmed India’s dedication to supporting Sri Lanka’s economic recovery. He reiterated that India’s policy priorities, including the Neighbourhood First Policy and the SAGAR initiative (Security and Growth for All in the Region), will guide the continued strengthening of bilateral relations.
Sri Lanka, strategically located in the Indian Ocean, has faced severe fiscal challenges, declaring its first sovereign default after more than $51 billion in foreign loans. India’s significant financial assistance has been crucial in these times. The Ministry of External Affairs declared this visit as a testament to the enduring partnership between India and Sri Lanka, aiming to enhance cooperation for mutual benefits.
Jaishankar’s past meetings with President Dissanayake underline the importance of collaboration between both nations. His previous visit in October and discussions on areas of cooperation are indicative of a shared goal to promote bilateral ties, which ultimately benefit both the Indian and Sri Lankan populations.
The dialogue led by External Affairs Minister S. Jaishankar at Chatham House highlights India’s proactive role in supporting Sri Lanka during its economic crisis. The substantial financial aid provided not only demonstrates India’s goodwill but also sets the expectation for mutual responsibilities among neighboring countries. As India continues to prioritize its relations with Sri Lanka through strategic policies, the foundation for enduring partnership appears robust and committed to fostering mutual growth.
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