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India announces USD 450 million line of credit to Sri Lanka

ANI  |  Asia 

Prime Minister Narendra Modi announced on Friday financial assistance of USD 450 million to Sri Lanka including USD 50 million for counter-terrorism after holding talks with the visiting Sri Lankan President Gotabaya Rajapaksa.

"USD 400 million line of credit to be extended to Sri Lanka to strengthen its economy. Under the Indian housing project, 46,000 houses have already been constructed in Sri Lanka. 14,000 houses further being made for Tamil origin people. USD 100 million credit line given for solar projects.

Condemning the April 21 Easter Sunday attack in the island nation, Modi said India is extending a USD 50 million line of credit to Sri Lanka to fight terrorism.

"India has always condemned and fought against terrorism. India is extending a $50million line of credit to Sri Lanka to fight terrorism," PM Modi said.

Thanking PM Modi for the financial aid to counter-terrorism, Rajapaksa said, "I want to thank him for offering a fifty million dollar line of credit to enhance the capabilities of the intelligence agencies."

He also said, "With India, our corporation is multi-faceted with priority given to security-related matters".

Prime Minister Modi also congratulated Rajapaksa on his recent election victory and said it is a matter of honour for us that President Rajapaksa chose India for his first foreign trip

"I want to extend my hearty congratulation to President Gotayaba for his election victory. I want to congratulate the people of Sri Lanka for successfully concluding the election process," PM Modi said.

"It is a matter of honour for us that President Rajapaksa chose India for his first foreign trip and gave us the opportunity to honour him in India within two weeks of taking office," he added.

PM Modi said that the mandate given to Rajapaksa is the expression of the "ambitions of the people of Sri Lanka for a strong country".

"The mandate was given to you (Sri Lankan President Gotabaya Rajapaksa) is the expression of the ambitions of the people of Sri Lanka for a strong country. A strong Sri Lanka is not only in the interest of India but that of the entire Indian Ocean region," PM Modi added.

Prime Minister said that the Rajapaksa government will take forward the reconciliation process to meet the aspirations of Tamil community in Sri Lanka which also includes the implementation of 13th Amendment.

Prime Minister Modi made these remarks after holding talks with Sri Lanka's President Gotayaba Rajapaksa, who is on a three-day visit to India.

"President Rajapaksa told me of his inclusive political point of view on ethnic harmony. I am confident that the Sri Lankan Government will pursue the process of reconciliation to meet the aspirations of equality, justice, peace and respect of Tamils," said Prime Minister Modi while sharing the stage with Rajapaksa.

"The procedure of reconciliation also includes the implementation of 13th Amendment," PM Modi added.

"Sri Lanka and India share a strong bond. We give priority to our relations with Sri Lanka under our 'Neighbourhood First' policy," he added.

Modi said he and President Rajapaksa held a discussion on a wide range of issues including the mutual security and against terrorism. They also discussed the issue of fishermen.

"I have discussed in detail with President Rajapaksa on strengthening bilateral cooperation for mutual security and countering terrorism. Sri Lankan police officers in major Indian institutions are receiving counter-terrorist training," he said.

"We also discussed issues affecting the livelihood of fishermen. We agree that we will continue to have a constructive and humanitarian approach in this matter," PM Modi added.

Sri Lanka President Gotayaba Rajapaksa on Friday assured that his country will take steps to release the Indian fishermen's boats which are in the island nation's custody.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 29 2019. 15:42 IST
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