India delivers 40,000-MT of fuel to Sri Lanka amid energy crisis

Sri Lanka has a loyal partner and true friend in India. According to a statement published by the Indian High Commission here, the High Commissioner, Gopal Baglay,  handed over a 40,000 MT petroleum consignment from Indian Oil Company.

Sri Lanka chose to purchase 40,000 metric tonnes of diesel and petrol from India's Indian Oil Corporation (IOC) to address urgent energy needs in the midst of an economic crisis exacerbated by depleted foreign reserves. India's fuel delivery coincided with the announcement of Sri Lankan Finance Minister Basil Rajapaksa's visit to India in a fortnight to formalise India's economic rescue plan for the island nation, which is experiencing a severe currency crisis.

In January, India approved a USD900 million loan to Sri Lanka to help replenish the country's depleted foreign reserves and fund food imports, despite the country's severe shortages of practically all vital commodities.

The economic aid plan for Sri Lanka handed a lifeline to the island nation, which was facing food shortages as its foreign reserves dropped to record lows, disrupting electricity and fuel supplies.

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