External Affairs Minister S. Jaishankar emphasized India’s commitment to supporting Sri Lanka during its economic crisis, highlighting New Delhi’s $4 billion aid package that helped the island nation recover from financial turmoil.

Speaking at Chatham House, a London-based think tank, on Wednesday, Jaishankar said:

“When Sri Lanka had a very serious financial crisis while the rest of the world largely sat on its hands, we came forward with a package of more than $4 billion, which was almost twice the size of the IMF package.”

India’s support under Neighbourhood First Policy

Jaishankar reaffirmed India’s longstanding assistance to Sri Lanka, emphasizing that while India is a larger and generous economy, it expects reciprocity and sensitivity from its neighbors.

“We have a responsibility to our neighbours, and they also have a responsibility to us,” he noted.

Jaishankar is the first foreign dignitary to visit Sri Lanka since President Anura Kumara Dissanayake’s government took office on September 23, 2024.

He reiterated that India’s Neighbourhood First Policy and SAGAR (Security and Growth for All in the Region) outlook would continue to guide bilateral ties.

India’s aid during Sri Lanka’s crisis

Sri Lanka declared its first sovereign default in April 2022, following an economic crisis that led to civil unrest and the resignation of then-President Gotabaya Rajapaksa.

India stepped in with nearly $4 billion in assistance, helping Sri Lanka navigate its financial crisis and rebuild its economy.

During his visit, Jaishankar reaffirmed India’s ongoing support for Sri Lanka’s economic rebuilding efforts and expressed confidence in deepening cooperation between New Delhi and Colombo.

His remarks underline India’s strategic commitment to its maritime neighbor and its role in the Indian Ocean Region (IOR).