#India announces 400 million dollars line of credit to #SriLanka to strengthen its economy

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New Delhi: Prime Minister Narendra Modi today said that India is committed to partner Sri Lanka in its path to development.

In a joint press statement after meeting Sri Lankan President Gotabaya Rajapaksa in New Delhi, Mr Modi said, India gives priority to its relations with Sri Lanka under its ‘Neighbourhood First’ policy. He said, India will fully cooperate with Sri lanka’s fight against terrorism. He announced 50 million dollars line of credit to Sri Lanka to tackle terrorism. Mr Modi also announced a new line of credit of 400 million dollars to Sri Lanka to strengthen its economy. Describing the meeting with Mr Rajapaksa as fruitful, Mr Modi said, a strong and prosperous Sri Lanka in not only in the interest of india but in the interest of the entire Indian ocean region. He assured India’s help in overall development of the country.

The Sri Lankan President in his statement said, India’s line of credit of 400 million dollar will further boost Sri Lanka’s development. He said PM Modi has always fought terrorism.

The newly elected President of Sri Lanka arrived in the national capital last evening on a state visit to India at Prime Minister Modi’s invitation.

Earlier, PM Modi in a tweet said that, Mr Rajapaksa’s visit is a testimony to the time-tested ties between India and Sri Lanka and will help strengthen mutual bonds and energise the partnership.

Mr Rajapaksa was accorded a ceremonial reception at Rashtrapati Bhawan this morning. Speaking to reporters after a ceremonial welcome at the Rashtrapati Bhavan, Mr Rajapaksa said that he would strive to take his country’s bilateral relationship with India to a very high level.

Mr Rajapaksha also met External Affairs Minister Dr S Jaishankar and discussed a range of bilateral and regional issues.

This is Mr Rajapaksa’s first overseas visit since assuming office. He will call on President Ram Nath Kovind at Rashtrapati Bhawan this evening.

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