India offers Sri Lanka US$450mn as President Gotabaya meets Modi

ECNOMYNEXT – India has offered Sri Lanka a 450 million US dollars to build infrastructure and boost security as President Gotabaya Rajapaksa made his maiden foreign visit to meet President Ram Nath and Prime Minister Narendra Modi.

President Gotabaya Rajapaksa has said he will strive to elevate Indo – Sri Lanka relations to the highest level possible during his tenure of office, a statement from his office said.

“We held very fruitful talks. I assured Sri Lankan president of India’s help in overall development of the country,” Modi was quoted in Indian media as saying after meeting Rajapaksa.

India has offered a 400 million US dollar credit line to Sri Lanka to develop infrastructure. Another 50 million US dollars had been offered to boost anti-terror activities.

India has been financing Sri Lanka’s railways especially in the island’s north and east after the end of a 30-year war. (Colombo/Nov29/2019)