Sri Lanka Seeks USD 55 Million Loan From India For Buying Fertilizer

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Sri Lanka Seeks USD 55 Million Loan From India For Buying Fertilizer

Sri Lanka Seeks Loan From India: Sri Lanka, which is facing economic crisis, food crisis as well as many types of crises, has sought 55 million US dollars (55 million USD) help from India. He has asked for this help in the name of buying urea (Fertilizers). Recently, Sri Lankan Prime Minister Ranil Wickremesinghe warned of a food crisis due to the economic crisis in the country. An official said that the Cabinet has prepared an agreement with India for the purchase of urea for cultivation in the country, which is to be signed by Prime Minister Ranil Wickremesinghe.

The Government of Sri Lanka has said that India has also agreed to give 55 million US dollars to Sri Lanka from the Import-Export Bank. This loan is available for the purchase of urea for the 2022-23 season. So on the other hand, Prime Minister Ranil Wickremesinghe said that if the government takes immediate action to overcome the shortage of farmers, then in the next 5 to 6 months the current shortage of agriculture can be overcome.

Gotabaya Rajapakse responsible for agrarian crisis

Gotabaya Rajapaksa is being held responsible for the agrarian crisis in Sri Lanka. It was he who had banned the import of chemical fertilizers in the country, due to which there is a loss of 50 percent crop in the country’s agriculture sector today. After this decision of Rajapaksa, farmers protested widely but Rajapaksa government ignored it saying that we will use organic manure in the country and there is a small effort for the policy of green agriculture.

Sri Lanka going through worst phase since independence

Sri Lanka is going through its worst economic crisis since its independence from the British in 1945. Here due to the economic crisis, there was a severe shortage of essential items like food, medicine, cooking gas, other fuels, toilet paper and even matches. The situation has become such that Sri Lankans are forced to wait for hours outside shops to buy fuel and cooking gas for months.

Also read: Sri Lanka Crisis: ‘I will not contest again’, declares Sri Lankan President Gotabaya Rajapaksa

Also read: Sri Lanka Crisis: Sri Lankan President Gotabaya appointed Prime Minister Ranil Wickremesinghe as Finance Minister

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