China and India are stepping up pouring money into Sri Lanka to reduce political and economic tension in the Indian Ocean region.
The Chinese government has decided to provide another 300 million RMB of aid to Sri Lanka to fulfil its need to procure urgent and lifesaving drugs, food and fuel.
Posting a tweet on the Chinese Embassy’s official Twitter page in Colombo said this emergency aid is to be granted from China has been increased to 500 million RMB which is equivalent to approximately US$ 76 million.
Meanwhile, Sri Lankan Power and Energy Minister Kanchana Wijesekera said yesterday (2) that the Sri Lankan government has extended a credit line with India by $200 million in order to procure emergency fuel stocks.
The minister said that discussions were also held with India over extending the credit line by an additional $500 million.
