External Affairs Minister S Jaishankar on Saturday held talks with Sri Lankan Finance Minister Basil Rajapaksa and discussed projects and investment plans by India that would strengthen the economy of the island nation.

During the “detailed” virtual meeting, Jaishankar also raised the issue of Indian fishermen in Sri Lankan custody and urged for their early release as a humanitarian gesture.

“Just concluded a detailed virtual meeting with Sri Lankan Finance Minister @RealBRajapaksa. Reaffirmed that India will be a steadfast and reliable partner of Sri Lanka,” Jaishankar tweeted after the meeting.

"We positively noted the extension of the USD 400 million swap facility and the deferred ACU settlement of USD 515.2 million. Discussed the early realisation of USD 1 billion term loan facility for essential commodities and of USD 500 million LoC for fuel purchase,” the external affairs minister said.

"Welcomed the progress on Trincomalee Tank Farm which will contribute to energy security,” he said in another tweet.

“Considered projects and investment plans by India that would strengthen Sri Lankan economy,” Jaishankar said, adding “Urged early release of Indian fishermen in Sri Lankan custody as a humanitarian gesture.” This interaction follows Rajapaksa’s visit to India last month.

Both ministers positively noted that extension of USD 400 million to Sri Lanka under the SAARC currency swap arrangement and deferral of ACU settlement of USD 515.2 million by two months would assist Sri Lanka, the MEA said.

The two ministers reviewed the progress in extending the Indian credit facility of USD 1 billion for importing food, essential items and medicine and USD 500 million for importing fuel from India.

Image courtesy: The Economic Times