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  • DAILY CURRENT AFFAIRS:India hands over 21000 tonnes of Fertilizers to Sri Lanka to help it struggling Agricultural sector

India hands over 21000 tonnes of Fertilizers to Sri Lanka to help it struggling Agricultural sector

Tags: Economy/Finance International News

India handed  over 21,000 tonnes of fertilizers to Sri Lanka on 22 August 2022 under a credit line extended to crisis-ridden Sri Lanka, as part of New Delhi's ongoing efforts to support the island nation's farmers and help bolster bilateral cooperation for food security .  This was tweeted by the High Commission of India in Sri Lanka.

India’s help for the agriculture sector in Sri lanka 

  • In May, India assured Sri Lanka to immediately supply 65,000 metric tonnes of urea to avoid any disruption to the current Yala cultivation season in Sri Lanka after the Sri Lankan Agriculture Minister requested India's help for food security and environmental protection in the island nation, as it faces the worst economic crisis in its post-independence history.
  • Yala is the season of paddy cultivation in Sri Lanka that lasts between May and August.
  • On 10 July 2022 India had supplied 44,000 metric tonnes of urea to Sri Lanka. 
  • Former Sri Lankan President Gotabaya Rajapaksa's decision last year to ban chemical fertiliser imports in order to turn into a green economy has caused a food shortage with crop losses amounting to 50 per cent.

India’s Help for Sri Lanka 

Under its neighbourhood first policy, the Government of India has stepped in to support Sri Lanka. Since January, India has extended $3.5 billion in assistance by way of a currency swap, loan deferment and credit lines for essential imports to help Sri Lanka cope with the foreign exchange crisis and shortages of essential goods.

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