High-level US delegation to visit Sri Lanka

The team of high delegations representing the U.S. Department of the Treasury and the U.S. Department of State will visit Sri Lanka on Sunday.

Members of the delegation included Deputy Assistant Secretary of Treasury for Asia Robert Kaproth and Ambassador Kelly Keiderling, who is also the Deputy Assistant Secretary of State for South and Central Asia, Daily Mirror reported.

The visitors will meet with various political representatives, economists, and international organizations, the US embassy said in a statement.

According to the statement, during their meetings, they will explore the most effective ways for the US to support Sri Lankans in need.

"This visit underscores our ongoing commitment to the security and prosperity of the Sri Lankan people," said U.S. Ambassador to Sri Lanka, Julie Chung adding "As Sri Lankans endure some of the greatest economic challenges in their history, our efforts to support economic growth and strengthen democratic institutions have never been more critical."

Over the past two weeks, the U.S. has announced USD 120 million in new financing for Sri Lankan small and medium-sized businesses, a USD 27 million contribution to the island country's dairy industry and USD 5.75 million in humanitarian assistance to help those hit hardest by the economic crisis.

The United States also committed USD 6 million in new grants to provide livelihood assistance to vulnerable populations, and technical assistance on financial reform that will help stabilize the economy.

In the coming months, the U.S. will continue to support Sri Lankans as they revive their economy, combat food insecurity, and promote public health and education.

The United States also strongly supports Sri Lanka's decision to seek assistance from the International Monetary Fund, which can provide the most durable resolution to the present crisis, the statement added.

Due to an acute shortage of foreign exchange, Sri Lanka recently defaulted on the entirety of its foreign debt amounting to about USD 51 billion.