Indian announces $ 450 million LoC for Sri Lankan development, anti-terror fight

Naz Asghar

Nov 29, 2019

New India on Friday announced a special Line of Credit of 50 million dollars to Sri Lanka to combat terrorism, and a new $ 400 million line of credit for development projects in the country. The country was brutally targeted by terrorists on the occasion of Easter this year.

Announcing the Line of Credit at a media statement after talks with visiting Sri Lankan President Gotabaya Rajapaksa, Prime Minister Narendra Modi expressed India’s unwavering support its island neghbour in its fight against terrorist and extremist forces.

Rajapaksa is on his first foreign visit after taking over as President of Sri Lanka on November 18 following his win in a keenly fought national election.

”I have discussed in detail with the President Rajapaksa for mutual security and to further strengthen mutual cooperation against terrorism. Sri Lankan police officers in major Indian institutions are already receiving the benefit of counter terrorist training. I am happy to announce a special Line of Credit of 50 million dollars to Sri Lanka to combat terrorism,” Modi said.

He said India had always opposed terrorism in all its forms and also expected action from the international community against other forms of terrorism, including cross-border terrorism.

”On the occasion of Easter this year, terrorists in Sri Lanka launched brutal attacks on the diversity of mankind and the valuable heritage of symbiosis. I went to Sri Lanka immediately after the elections in India to express India’s unwavering support,” he added.

”In line with my Government’s “Neighborhood First” policy and SAGAR doctrine, we prioritize our relations with Sri Lanka. The security and development of our two countries are inseparable. Therefore, it is natural that we should be aware of each other’s safety and sensibilities,” the Prime Minister said.

The Prime Minister said he had a very good and fruitful discussion the President on bilateral relations and international affairs of mutual interest, and they had decided to further strengthen the multi-faceted partnership and cooperation between the two countries.

He emphasised that the development partnership with Sri Lanka will be in accordance with the priorities of its people .

” A new $ 400 million line of credit will give a boost to infrastructure and development in Sri Lanka. I am confident that the Sri Lankan economy will benefit as well as this Line of Credit will also accelerate the Project Cooperation of mutual benefit between the two countries,” he said.

Under the Indian Housing Project, 46,000 houses have so far been constructed for the internally displaced in the Northern and Eastern Provinces of Sri Lanka. There is good progress in the construction of 14,000 houses for Tamils of Indian origin in the Up-Country region.

Modi said the two countries have agreed to use the previously announced $ 100 million credit line for solar projects in Sri Lanka early.

The issue of the reconciliation in Sri Lanka also came up for discussion between the two leaders.

” President Rajapaksa told me about his inclusive political outlook on ethnic harmony. I am confident that the Government of Sri Lanka will carry forward the process of reconciliation, to fulfill the aspirations of the Tamils for equality, justice, peace and respect. It also includes the implementation of the 13th amendment. India will become a trusted partner for development throughout Sri Lanka including North and East,” the Prime Minister said.
–India News Stream