As part of its continued efforts to assist the cash-strapped island nation and alleviate the acute mobility restrictions faced by the police due to a lack of vehicles, India has given 125 SUVs to the Sri Lankan police under a line of credit. India has provided Sri Lanka with multifaceted assistance during the past 12 months as part of its Neighborhood First strategy to help the island nation get through its worst economic and humanitarian crises since gaining independence from Great Britain in 1948. In a formal ceremony on Thursday, Sri Lankan Minister of Public Security Tiran Alles received 125 SUVs from Indian High Commissioner Gopal Baglay on behalf of the Sri Lanka Police.
The Indian High Commission in Sri Lanka announced on Twitter that an additional 375 SUVs would be sent to Colombo as part of an ongoing line of credit. India continues to support Sri Lanka. Hon. Tiran Alles, Sri Lanka's Minister of Public Security, received 125 Mahindra SUVs from the High Commissioner in a formal presentation. policing nowadays We will soon have more of the 500 modern SUVs in total that is covered by the current Line of Credit! This year, a contract was signed, according to a tweet from the company.
Alles claimed that because fleet replenishments had been impossible for the previous three years, Sri Lankan police had severe mobility restrictions due to a lack of cars. With close to USD 4 billion in financial support, India helped Sri Lanka ensure its food, health, and energy security by sending necessary goods including food, medicines, gasoline, and kerosene. The key debt restructuring plan is now being negotiated between the two nations and is a requirement for Sri Lanka to reach an agreement with the International Monetary Fund.
In September, Sri Lanka and the international lender came to terms on a USD 2.9 billion rescue package for a four-year period. After declaring its first-ever international financial default in May, the Sri Lankan government engaged foreign legal and debt consultants for debt restructuring. Due to its impending bankruptcy, Sri Lanka has put off paying back its USD 51 billion foreign debt, of which it must recoup USD 28 billion by the year 2027. The 22 million-person nation of Sri Lanka experienced financial and political instability earlier this year as a result of a currency shortage. These problems have prevented the nation from affording important imports, such as fuel, fertilizer, and medicine, resulting in long lines.