India and Japan initiating aid to the Sri Lankan turmoil

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India and Japan has decided to extend their humanitarian aid to the Sri Lankan economic turmoil and provide them all sorts of assistance to uplift their condition, as declared by the Japanese government followed from a meeting between the prime ministers of India & Japan.

The two ministerial heads of their nation, Mr. Narendra Modi and Mr. Fumio Kishida joined their hands on 24th of May having bilateral talks on the occassion of the Quad summit. Both of the parties nodded their consent on the necessity of a ” Free and open Indo-Pacific” asserting to the cooperation in various other departments of defence, investment and clean energy.

Japan has been an old helping partner of Sri Lanka which hadn’t came much to the limelight like that of China and other countries.

Being one of the integral member of the Quad countries with India, US and Australia, Japan has announced the cooperation initiative where the country sought collaboration with India. Similarly, presumed from the statements made by the President of Sri Lanka, Ranil Wickremesinghe who laid down the draft, proposing the Quad members to aid his nation altogether in the spheres where they are raked up with deficit. In urgent necessity of imports for food,medicines, fuels they are also ready to bear investments from the outskirts of their country.

India, who has already assisted with a whopping amount of $ 3.5 billion, through credit lines for gearing up imports once again.

Japan remains one of Sri lanka’s vital trading partners who holds a important position in developmental issues.

Japan’s ministry of foreign affairs affirmed that the leaders had held discussions regarding the dismal situation of Sri Lanka with its beleaguering economy drooping down substantially. It is also stated that the Indo pacific economic framework which has been planned to elevate the developmental works would also certainly benefit the other regions .

The prime minister of Sri Lanka Gotabaya Rajapaksa after comprehending the significance of Japan in their rehabilitating project , stated in a tone of welcoming “We are also in urgent need of bridging financing to restore confidence in our external sector and stabilise our economy until the debt restructuring process is completed and an IMF programme commences,” he said.

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