Indian PM Modi announces $ 400 million line of credit to SL

President Gotabaya Rajapaksa has extended an invitation to Indian Prime Minister Narendra Modi to visit Sri Lanka as the first head of State to arrive in the island nation during his tenure.

The two leaders delivered a joint statement at Hyderabad House in New Delhi this afternoon (29).

After meeting with Modi for bilateral talks, Rajapaksa also announced the release of all Indian fishermen boats currently in Sri Lankan custody and vice versa.

Meanwhile the Indian Prime Minister stated that $400 million line of credit is to be extended to Sri Lanka to strengthen its economy.

Under Indian housing project, 46,000 houses have already been made in Sri Lanka while another 14,000 houses are further being made for Tamil origin people. $100 million credit line was given for solar projects in Sri Lanka.

Modi said they also had a good discussion on 20 community development projects and other people-centric projects in sync with the educational exchanges.

He said that India has always, in all measures, challenged terrorism and that it has always invited global investigation on cross-border terrorism.

Modi stated that the mandate given to 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, he said.

The Indian Prime Minister announced a financial assistance of $50 million to Sri Lanka to deal with the challenge of terrorism after holding “fruitful” talks with Gotabaya Rajapaksa.

The Prime Minister also said he was confident that the new government in Sri Lanka will fulfill aspirations of the Tamil community in the island nation.

In a media statement, PM Modi said India’s line of credit of $400 million will further boost Sri Lanka’s development.

Modi said that the Sri Lanka 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.

“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 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.

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.

-Agencies