‘Reflection of Deep Bonding Between Two Nations’: Jaishankar on $450-Million Cyclone Relief for Sri Lanka

‘Reflection of deep bonding between two nations’: Jaishankar on $450-million cyclone relief for Sri Lanka

As Sri Lanka grapples with the aftermath of Cyclone Ditwah, India pledges a $450 million aid package to support recovery efforts. External Affairs Minister S. Jaishankar emphasises the deep bonds between the nations while detailing India's commitment to assist in rebuilding critical infrastructure.

India Announces $450M Aid for Sri Lanka After Cyclone Ditwah

Key Highlights India announced a $450 million reconstruction package for Sri Lanka after Cyclone Ditwah caused widespread damage. The package includes $350 million in concessional credit and $100 million in grants, according to External Affairs Minister S. Jaishankar. India began relief operations under Operation Sagar Bandhu on the day the cyclone made landfall. India on Tuesday announced a $450 million reconstruction package for Sri Lanka fol…

Sri Lanka rupee opens weaker, bond yields steady

Sri Lanka’s rupee was quoted at 309.55/65 to the US dollar in the spot market on Monday, marking a slight depreciation from Friday’s close of 309.50/60, according to dealers. Bond yields remained relatively steady during the session. The rupee has weakened from around 292 to the dollar since December 2024, despite record current account surpluses and narrowing budget deficits. This trend comes as the central bank has selectively restricted conve…