Dhaka (Bangladesh): Referring to India as a “Big Brother” for the help it offered Sri Lanka in coping with the financial crisis which hit the island nation last year, the country’s Minister of Ports, Shipping and Aviation, Nimal Siripala de Silva, told ThePrint Saturday that it must be ensured that India’s security is not threatened by any other country in the region.
In an exclusive interview on the sidelines of the 6th Indian Ocean Conference in Dhaka, Bangladesh, de Silva said: “We understand the concerns of India. We have to ensure the security of India is not threatened by anybody else [in the region].”
The Sri Lankan minister’s comments come days after India extended a $1 billion credit line for the cash-strapped island country by one year — till March 2024. This was part of India’s $4 billion emergency assistance package extended to Sri Lanka early last year, which was slated to end in March.
Last month, Sri Lanka secured a $3 billion bailout from the International Monetary Fund (IMF). China, India and Japan are the island country’s biggest lenders, with China offering Sri Lanka a two-year moratorium on its debts.
Asked about India’s role in helping lift Sri Lanka out of its economic crisis, the minister referred to New Delhi as a “Big Brother”, adding that his country is “reciprocating”.
“India is our big brother. They have helped us a lot in the financial crisis. They gave us over $4 billion in order to tie up (sic) our financial distress at that time and India continues to help and we are also reciprocating,” said de Silva.
He also spoke about alleged “debt trapping” by China.
The 6th Indian Ocean Conference has seen the participation of representatives from 25 nations — mostly countries that are part of the Indian Ocean region.
Ministers, academics, former ambassadors and political analysts from countries like Bangladesh, India, Sri Lanka, Somalia, Maldives, Oman, Australia and others, who discussed the changing world order, maritime security, climate change etc.
Response to Jaishankar’s remarks
During his address on Friday evening, External Affairs Minister Dr S. Jaishankar talked about China’s alleged “debt trapping”, and urged countries in the Indo-Pacific not to repeat mistakes of the past when it came to “opaque lending practices”.
Asked to respond to the Indian foreign minister’s remarks, de Silva said that other countries can offer advice but it is up to Sri Lanka to come up with solutions to its own problems.
“We can only get assistance from other countries but we need home-grown solutions in our countries for our problems,” he said.
Sri Lanka is often cited as a victim of China’s so-called “debt trap” diplomacy. The Hambantota Port, located in southern Sri Lanka, was built and funded by China. However, such Chinese projects have also been referred to as “white elephants” — an expensive investment with unsatisfactory returns.
(Edited by Anumeha Saxena)
Also Read: Counting on India, China & Japan in changing world order, says Egyptian official