Thanks to India, Sri Lanka’s 4 million children will be able to study: Books will be printed from last year’s loan, paper taken from India

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 With India’s help, 4 million children in economic crisis in Sri Lanka will get books. The Indian High Commission itself has given this information. In fact, in March last year, India extended a loan facility of Rs 8,196 crore to Sri Lanka, which was going through an economic crisis.

So that there is continuous supply of daily necessities. Using Rs 8 crore from this credit facility, printing paper and related materials will be purchased from Sri Lanka and India. Due to which children’s books will be printed there.

India has given 32 thousand crore rupees to Sri Lanka so far
India has provided aid to Sri Lanka under the Neighborhood First Policy. According to the report, India has so far given a loan of 32 thousand crores to Sri Lanka. It has been spent on essential commodities, petrol, fertilisers, railways and energy related works.

In fact, Sri Lanka went bankrupt a few months ago. Then there was a situation of civil war. During this period, besides food, fuel and medicine, the Indian government also gave foreign deposits worth about $3 billion to this neighbour.

Mahinda Rajapaksa’s family fled the country last year when the situation worsened in Sri Lanka.

‘Sri Lanka will always be grateful to India’
Sri Lanka’s foreign minister said in a podcast interview three days ago that India has helped his country the most during difficult times and Sri Lanka will always be grateful and indebted to India for the same. Sri Lankan Foreign Minister Ali Saber said – A true friend is one who holds your hand and helps you in difficult times and bad situations. This is what India has done.

Learn how debt destroyed Sri Lanka

  • For a decade, Sri Lankan governments had taken on huge amounts of debt, but instead of putting it to good use, misused it. Sri Lanka’s external debt has been steadily increasing since 2010. Sri Lanka has taken most of its loans from China, Japan and India.
  • Ranil Wickremesinghe, who was Sri Lanka’s Prime Minister from 2018 to 2019, gave the Hambantota port to China on a 99-year lease. This was done in lieu of China’s debt repayments. Such policies began his downfall.
  • It also owes money to organizations like World Bank, Asian Development Bank. In addition to this, they have taken loans from the international market. Sri Lanka’s estimated income from exports is $12 billion, while its expenditure from imports is about $22 billion, meaning a trade deficit of $10 billion.
  • Sri Lanka is heavily dependent on imports for almost everything it needs like medicines, food items and fuel. In such a situation, he is not able to buy these necessary things due to lack of foreign currency.

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