Daily Current Affairs on India emerges as Sri Lanka’s largest bilateral lender overtaking China for Uttarakhand Patwari and allied Exams Preparation

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India emerges as Sri Lanka’s largest bilateral lender overtaking China

India has emerged as the largest bilateral lender for Sri Lanka, overtaking China. India has provided a total of 968 million US dollars in loans to the island nation in four months of 2022. In the past five years from 2017-2021, China has been the largest bilateral lender to Sri Lanka.

  • Asian Development Bank (ADB) has been the largest multilateral lender in the past five years and disbursed funds amounting to 610 million dollars in 2021.
  • India's Permanent Representative to the UN, Ruchira Kamboj had said that India had provided nearly 4 billion dollars in food and financial assistance to Sri Lanka. On August 22, India handed over 21,000 tonnes of fertilizer to crisis-ridden Sri Lanka.

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