India stands with the people of Sri Lanka as they strive to democratically rebuild the fragile island country, seeking prosperity and progress, said the Ministry of External Affairs.
This statement comes after protesters raided Sri Lankan President Gotabaya Rajapaksa’s home and then Prime Minister Ranil Wickremesinghe’s private residence and set it on fire on Saturday.
Both the President and Prime Minister have announced their resignation from their posts amid the ongoing protests.
Arindam Bagchi, the spokesperson for the Minister of External Affairs said in a statement, “We continue to follow closely the recent developments in Sri Lanka. India stands with the people of Sri Lanka as they seek to realise their aspirations for prosperity and progress through democratic means and values, established institutions and constitutional framework.”
Continuing, Bagchi said that India is Sri Lanka’s closest neighbour and our two countries share deep civilisational bonds. “We are aware of the many challenges that Sri Lanka and its people have been facing, and we have stood with the Sri Lankan people as they have tried to overcome this difficult period,” he said in a statement.
India has extended this year unprecedented support of over USD 3.8 billion for relieving the serious economic burden on Sri Lanka. This decision is made in accordance with India’s Neighbourhood First policy and the central place that Sri Lanka occupies.
Sri Lanka is suffering its worst economic crisis since gaining independence in 1948, which comes on the heels of successive waves of COVID-19, threatening to undo years of development and severely undermining the country’s efforts to achieve the UN’s Sustainable Development Goals (SDGs).
The oil supply shortage has also forced educational institutes and government offices to close until further notice.
The shortages are fuelled by a lack of foreign exchange reserves and depreciation of the Sri Lankan Rupee, conjoined with reduced domestic agricultural production. The economic crisis will push families below the poverty line, adding to the half a million people who the World Bank estimates have already fallen below the poverty line because of the pandemic.
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