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India grants $450 Mn credit line to SL

29 Nov 2019

The Indian Government has offered to provide a $450 million credit line to Sri Lanka, upon President Gotabaya Rajapaksa's official visit to India. Indian Prime Minister Narendra Modi and Rajapaksa held bilateral discussions today. Following the discussions Rajapaksa announced that the Indian government had decided to offer a credit line of $400 to improve Sri Lanka's economy and infrastructure. The Indian Prime Minister has further offered a $50 million credit line to strengthen and enhance the capabilities of  Sri Lanka's intelligence agencies. "The discussions were extremely cordial and re-assuring. Security of our two countries took priority. India has always assisted Sri Lanka to enhance its capabilities in intelligence and counter terrorism. And we look forward to continued support in this regard,"Rajapaksa said. Rajapaksa said since the country's recent experience in April this year, the government had to re-think its national security strategy. "Assistance from India on this regard will be most appreciated and the Prime Minister's assurances are most encouraging." "We will continue to work closely with India to ensure that the Indian ocean remains a zone of peace," Rajapaksa assured. "We also discussed on how both the countries can work together on economically important matters as India emerges to be amoung the world’s growing economies. I discussed with Prime Minister Modi on how Sri Lanka could benefit from certain economic sectors where India is strongly positioned." "I thank Prime Minister Narendra Modi for his positive responses to enhance Sri Lanka’s economy," Rajapaksa added.  


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