Indian $100 mn credit line for setting up solar projects | Daily News


 

Indian $100 mn credit line for setting up solar projects

Sri Lankan President Gotabaya Rajapaksa being welcomed by President Ram  Nath Kovind and Prime Minister Narendra Modi before the ceremonial  welcome at Rashtrapati Bhawan in New Delhi on November 29, 2019. -  KAMAL NARANG
Sri Lankan President Gotabaya Rajapaksa being welcomed by President Ram Nath Kovind and Prime Minister Narendra Modi before the ceremonial welcome at Rashtrapati Bhawan in New Delhi on November 29, 2019. - KAMAL NARANG

India has announced a line of credit of $400 million for development projects in Sri Lanka and a $50 million fund to fight terrorism on Friday marking Sri Lankan President Gotabaya Rajapaksa’s two-day visit to the country.

“I am confident that this will help boost Sri Lanka’s economy and the line of credit will also speed up mutually beneficial `project cooperation’ between the two nations,” Modi said in a statement after his bilateral meeting with Rajapaksa.

The Indian Prime Minister Narendra Modi along Sri Lankan President Gotabaya Rajapaksa said that the two leaders had decided to utilise the $100 million credit line earlier announced for setting up solar projects in the country. He announced a line of credit of $ 400 million to boost the island nation’s development. He also announced $ 50 million to Sri Lanka to deal with security related issues. “We deliberated on dealing with challenge of terrorism,” Modi said.

Commenting on the talks, Modi said, “We held very fruitful talks. I assured Sri Lankan president of India’s help in overall development of the country.” Modi said that a stable Sri Lanka was interest of India and the entire Indian Ocean Region.

Modi said that it was decided by the two leaders that the countries would work together to strengthen their multi-dimensional partnership and strong steps will be taken in the direction. “In line with my government’s `neighbourhood first’ policy and SAGAR doctrine, we give primacy to our relationship with Sri Lanka.

Earlier, External Affairs Minister S Jaishankar met Rajapaksa during which a range of bilateral and regional issues were discussed. Jaishankar had travelled to Colombo last week as a special envoy of Prime Minister Modi to convey his greetings to Rajapaksa.

Last week, India said it was looking forward to work closely with the new Sri Lankan government. (Based on Hindu India reports)

 


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