India open to additional $2 billion financial aid for Sri Lanka with eye on China, say sources – TopologyPro One – News Aggregator and Search Portal

China has extended a $1.3 billion syndicated loan and a $1.5 billion-yuan denominated swap, while negotiations are ongoing for more loans and credit lines. India is willing to commit up to another $2 billion in financial assistance to Sri Lanka while also supporting the island nation with food and fuel, five sources told Reuters, as New Delhi tries to regain ground lost to China in recent years. Sri Lanka, hit by its worst economic crisis since independence in 1948 and on the brink of its first debt default, has been asking friendly nations including India and China for credit lines,…