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Business / World Business

US pledges $60 mln of funding for Sri Lanka

Published: 12 Sep 2022 - 10:38 am | Last Updated: 12 Sep 2022 - 10:48 am
Peninsula

Reuters

The United States announced $60 million in aid to buy fertilizer and other key agricultural inputs in time for the next cultivation season in crisis-hit Sri Lanka.

USAID head Samantha Power said it would provide $40 mln for fertilizer imports and $20 mln for humanitarian needs to tackle the country's deep financial crisis.

Power, who is visiting Sri Lanka, added: "I have come to convey that the United States stands with you during this unparalleled crisis."
Sri Lanka is facing acute shortages of essentials including food, fuel and medicines due to a lack of foreign currency needed to pay for imports.