Sri Lanka seeks fertilisers from India, deferral of payment of $2.5 billion
2 years, 7 months ago

Sri Lanka seeks fertilisers from India, deferral of payment of $2.5 billion

Hindustan Times  

New Delhi: Sri Lanka has sought the supply of fertilisers from India and the deferral of a payment of $2.5 billion to the Asian Clearing Union as part of efforts to cope with the island nation’s worst economic crisis in decades, people familiar with the matter said on Wednesday. The Sri Lankan government banned chemical fertilisers last year as part of a phased transition towards organic agriculture. The Sri Lankan side has also asked the Indian side to defer the payment of $2.5 billion to the Asian Clearing Union, an organisation with its headquarters in Tehran that includes Bangladesh, Bhutan, India, Iran, the Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka. The total financial aid provided by India to Sri Lanka since the beginning of the year is worth almost $2.5 billion.

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