India has handed over 75 passenger buses to Sri Lanka as part of its assistance towards strengthening public transport infrastructure in the cash-strapped country.
As part of its ‘neighbourhood first’ policy, India has provided multi-dimensional assistance to Sri Lanka to help the country deal with its worst economic and humanitarian crisis since its independence from Great Britain in 1948.
“Supporting mobility and accessibility in Sri Lanka, the High Commissioner handed over 75 buses for use by the Transport Board. In a statement, the Indian High Commission said, 500 buses are being supplied to Sri Lanka through Indian assistance towards strengthening the public transport infrastructure.
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In a similar move, India handed over 125 SUVs to the Sri Lanka Police in December to support the island nation and help resolve issues of severe mobility restrictions faced by the police due to non-availability of vehicles.
The Sri Lankan government declared a debt default in May last year on more than $51 billion in foreign debt – a first in the country’s history.
Providing a much-needed lifeline to a needy neighbour, India extended nearly $4 billion in financial aid to Colombo during the year.
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In January, India announced a $900 million loan to Sri Lanka to build up its depleted foreign reserves as the financial crisis unfolded.
Later, it offered a $500 million line of credit to Sri Lanka for the country’s fuel purchases. Considering the seriousness of the situation, the credit line was later enhanced to $700 million.
The Indian line of credit is being used to import essentials and fuel following street protests over severe shortages of essential commodities since early 2022.