Home Economy US Announced $40mn Agricultural Aid to Sri Lanka

US Announced $40mn Agricultural Aid to Sri Lanka

US Announced $40mn Agricultural Aid to Sri Lanka
Photo Courtesy: Dailyrecords.com

The United States has announced 40 million dollars in aid to the economically troubled Sri Lanka. This money is given to buy fertilizers and other inputs for the next farming season. US Aid Administrator Samantha Power is currently visiting Sri Lanka. She announced on September 3, 2022, after meeting with local farmers’ representatives outside the capital Colombo. So, US Announced $40mn Agricultural Aid to Sri Lanka.

A few days ago, the United States announced 6 million dollars in aid for low-income farmers. Daily necessities like food, fuel, and medicines are becoming scarce in the country due to the foreign exchange crisis. Apart from this, agricultural production decreased by more than half after the government banned chemical fertilizers and emphasized organic fertilizers.

According to the data provided by the World Health Organization, 30 percent of Sri Lanka, i.e., 6 million people, are suffering from food shortage. Ms. Samantha highlighted the need for humanitarian aid for them during the visit. According to her, the announced $40 million will help at least one million farmers in the next farming season.

Sri Lanka has recently signed a preliminary agreement with the International Monetary Fund (IMF) on the aid of 2.9 billion dollars. The current foreign debt of the South Asian island nation is 5 billion dollars. Of this, 2 thousand 8 billion dollars will be paid by 2027.

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