India handed over 21,000 tonnes of urea to crisis-hit Sri Lanka
India on 22 August handed over 21,000 tonnes of chemical fertiliser to the crisis-ridden neighbour Sri Lanka.
IMPORTANT FACTS -
- This has been done under a special assistance program that will help farmers in Sri Lanka and help strengthen bilateral cooperation for food security,
This is India's second such aid to the beleaguered island nation in recent months.
In May 2022, India had assured to supply 65,000 metric tonnes of urea to Sri Lanka immediately to avoid any disruption in the current Yala farming season in Sri Lanka.
Yala is the paddy cultivation season in Sri Lanka which lasts between May and August.
Ban of Fertiliser in Sri Lanka :
To move towards a green economy, President Gotabaya Rajapaksa last year decided to ban imports of chemical fertilizers, causing a food shortage that has reduced crop yields by 50%.
This decision of the government badly affected the food production.
As a result, the President of Sri Lanka declared an economic emergency to curb rising food prices.
India's support to Srilanka :
India has pledged about $4 billion in loans, lines of credit and credit swaps to the debt-ridden Sri Lanka from January this year.
Sri Lanka's annual fertilizer imports cost is USD 400 million.
India has provided financial assistance of about USD 3.5 billion to help safeguard Sri Lanka's food, health and energy security by supplying food, medicines, fuel, kerosene and other essential commodities.
In addition, India has recently supplied around 40,000 tonnes of rice under the extended USD 1 billion line of credit.
Please Rate this article, so that we can improve the quality for you -