<p>India has told Sri Lanka it is committed to boost investment in its debt-ridden neighbour, to help pull the island nation from its worst economic crisis in seven decades, Foreign Minister Subrahmanyam Jaishankar said during a visit to Colombo.</p>.<p>The country of 22 million has grappled with challenges over the past year ranging from a shortage of foreign currency to runaway inflation and a steep recession, in its worst such crisis since independence from Britain in 1948.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/national/jaishankar-visits-maldives-to-witness-impact-of-developmental-assistance-1182272.html" target="_blank">Jaishankar visits Maldives, to witness impact of developmental assistance</a></strong></p>.<p>During his two-day visit, Jaishankar held talks on Thursday with Sri Lankan counterpart Ali Sabry regarding co-operation in infrastructure, connectivity, energy, industry and health services.</p>.<p>"Conveyed our commitment to increase investment flows to Sri Lanka to hasten its economic recovery," Jaishankar said on Twitter on Thursday.</p>.<p>On Friday, he is set to meet Sri Lanka's president and prime minister.</p>.<p>During the visit, the neighbours are also expected to sign a Memorandum of Understanding for a renewable power project covering three islands in Sri Lanka's north, two sources at the power and energy ministry said.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/national/indias-response-to-terrorism-border-skirmish-shows-country-wont-be-coerced-by-anybody-jaishankar-1181186.html" target="_blank">India's response to terrorism, border skirmish shows country won't be coerced by anybody: Jaishankar</a></strong></p>.<p>Sri Lanka is racing to secure a $2.9-billion bailout from the International Monetary Fund but requires the backing of both China and India, its biggest bilateral lenders, to reach a final agreement with the IMF.</p>.<p>India has told the global lender that it strongly supports Sri Lanka's debt restructuring plan, with Colombo owing around $1 billion to its nearest neighbour.</p>.<p>China is Sri Lanka's largest bilateral lender and the last remaining major creditor has yet to agree to the plan.</p>.<p>Sri Lanka owed Chinese lenders $7.4 billion, or nearly a fifth of its public external debt, by the end of last year, calculations by the China Africa Research Initiative show.</p>
<p>India has told Sri Lanka it is committed to boost investment in its debt-ridden neighbour, to help pull the island nation from its worst economic crisis in seven decades, Foreign Minister Subrahmanyam Jaishankar said during a visit to Colombo.</p>.<p>The country of 22 million has grappled with challenges over the past year ranging from a shortage of foreign currency to runaway inflation and a steep recession, in its worst such crisis since independence from Britain in 1948.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/national/jaishankar-visits-maldives-to-witness-impact-of-developmental-assistance-1182272.html" target="_blank">Jaishankar visits Maldives, to witness impact of developmental assistance</a></strong></p>.<p>During his two-day visit, Jaishankar held talks on Thursday with Sri Lankan counterpart Ali Sabry regarding co-operation in infrastructure, connectivity, energy, industry and health services.</p>.<p>"Conveyed our commitment to increase investment flows to Sri Lanka to hasten its economic recovery," Jaishankar said on Twitter on Thursday.</p>.<p>On Friday, he is set to meet Sri Lanka's president and prime minister.</p>.<p>During the visit, the neighbours are also expected to sign a Memorandum of Understanding for a renewable power project covering three islands in Sri Lanka's north, two sources at the power and energy ministry said.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/national/indias-response-to-terrorism-border-skirmish-shows-country-wont-be-coerced-by-anybody-jaishankar-1181186.html" target="_blank">India's response to terrorism, border skirmish shows country won't be coerced by anybody: Jaishankar</a></strong></p>.<p>Sri Lanka is racing to secure a $2.9-billion bailout from the International Monetary Fund but requires the backing of both China and India, its biggest bilateral lenders, to reach a final agreement with the IMF.</p>.<p>India has told the global lender that it strongly supports Sri Lanka's debt restructuring plan, with Colombo owing around $1 billion to its nearest neighbour.</p>.<p>China is Sri Lanka's largest bilateral lender and the last remaining major creditor has yet to agree to the plan.</p>.<p>Sri Lanka owed Chinese lenders $7.4 billion, or nearly a fifth of its public external debt, by the end of last year, calculations by the China Africa Research Initiative show.</p>