Sri Lanka says India to provide additional $500 million for fuel

Uber driver waiting for fuel in Colombo, Sri Lanka

An Uber driver waits at a fuel station to buy fuel in Colombo, Sri Lanka March 22, 2022. (REUTERS / Dinuka Liyanawatte)

India will provide an additional $500 million in financial assistance to Sri Lanka for it to buy fuel, Sri Lanka’s foreign minister told reporters on Wednesday, adding Bangladesh was also willing to postpone a $450 million in swap repayments.

“Assistance by the IMF will take about six months to come to us and it will come in tranches,” Sri Lankan Foreign Minister G. L. Peiris said. “During the intervening period, we need to find funds to keep our people supplied with essentials.”