New Delhi (NVI): Reaching out to the new government in Sri Lanka, India today announced a 550 million USD Lines of Credit for security and developmental projects.
Sri Lankan President Gotbaya Rajapaksa, who took over on November 18, was in Delhi on his maiden visit at the invitation of Prime Minister Narendra Modi.
The Indian Prime Minister had sent External Affairs Minister S Jaishankar to Colombo on November 19 to personally hand over the invitation to Rajapaksa.
Modi and Rajapaksa today held detailed talks on ways to boost the bilateral ties. The discussions also covered the reconciliation process underway in Sri Lanka, keeping ethnic Tamils in mind.
Addressing the media after talks with Rajapaksa, who chose India as his first foreign destination, Modi underlined India’s ‘neighbourhood-first policy’ and said the Lankan President’s visit will boost the age-old ties between the two countries.
“A new $ 400 million line of credit will give a boost to infrastructure and development in Sri Lanka. I am confident that the Sri Lankan economy will benefit as well as this Line of Credit will also accelerate the Project Cooperation of mutual benefit between the two countries,” Modi said.
Modi said that both the countries have agreed to use the previously announced $ 100 million credit line for solar projects in Sri Lanka early.
“India has always opposed terrorism in all its forms and also expected action from the international community against other forms of terrorism, including cross-border terrorism,” PM said.
Referring to the brutal Easter terror attacks in the Island nation, Modi said he had held a discussion with President Rajapaksa for mutual security and to further strengthen mutual cooperation against terrorism.
“I am happy to announce a special Line of Credit of 50 million dollars to Sri Lanka to combat terrorism,” PM Modi said.
India also assured that it will become a trusted partner for development throughout Sri Lanka including North and East.
