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India grants Financial Assistance Support to Sri Lanka

Published on January 15, 2022
Current Context: India has come forward to support Sri Lanka in building up its depleted foreign reserves and for food imports.
India grants Financial Assistance Support to Sri Lanka
  • In this regard, India has granted financial assistance of USD 900 million loans to Sri Lanka.
  • The island nation is currently facing a shortage of various essential commodities as the nation is facing a shortage of dollars to pay for the imports.
  • Therefore, India’s Reserve Bank of India (RBI) will support financially to Sri Lanka to tackle its crisis.
  • These comprise deferment of Asian Clearing Union settlement of over USD 509 million and currency swap of USD 400 million.
  • Static Part: 
    • Capital of Sri Lanka: Sri Jayawardenepura Kotte, Colombo
    • Currency of Sri Lanka: Sri Lankan rupee

Question: 

Q.1 India granted financial assistance of ____ loans to Sri Lanka, to help in building up its depleted foreign reserves and for food imports.?
a. USD 900 million
b. USD 700 million
c. USD 500 million
d. USD 400 million
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