In an interview with the New Tang Dynasty (NTD) TV, Cleo Paskal, a researcher at the U.K. policy institute Chatham House, said that India is helping Sri Lanka to reduce its dependence on the Chinese Communist Party (CCP).
Paskal said that India has provided loans and sent fertilizer to Sir Lanka. It has been trying, regarding the political war, to create a situation for Sri Lanka in which it is not-so-dependent on the CCP.
By August 2022, Sri Lanka had US $10 billion in debt. Of that amunt,, 44 percent was owed to Beijing. Japan holds 32 percent and India holds 10 percent.
India has become Sri Lanka’s lifeline. It provided around US $4 billion in lines of credit and swaps, to sustain Sri Lanka’s economy.
India also opposes the docking of China’s spy ships at Sri Lanka’s Hambantota Port. In December 2017, Sir Lanka rented the Hambantota Port to China for 99 years, to convert to equity the US $1.4 billion that it owed to China and didn’t have means to pay back, .
Source: Epoch Times, September 4, 2022
https://www.epochtimes.com/gb/22/9/3/n13816991.htm