India offers $50mn to deal with security, $400mn to boost economy

29 November 2019 02:59 pm

President Gotabaya Rajapaksa today thanked Indian Prime Minister Narendra Modi for offering USD 50 million to enhance capabilities of the intelligence agencies in Sri Lanka.

Indian PM Modi also announced a line of credit of USD 400 million to boost Sri Lanka's development.

Addressing a joint press briefing in New Delhi, India, President Rajapaksa said since the recent experience of Sri Lanka in April this year, we have had to rethink national security strategies.

“Assistance from India in this regard is most appreciated and Prime Minister Modi’s assurances are most encouraging,” he said.

Meanwhile, President Rajapaksa said the fishermen issue was discussed in length and steps would be taken to release boats of the Indian fishermen in Sri Lanka custody.

The President also invited Indian Premier to visit Sri Lanka as the first-ever state leader to visit the country after the new President was elected.

Prime Minister Modi said India gives priority to its relations with Sri Lanka under its 'Neighbourhood First' policy.

Announcing USD 50 million dollars line of credit to Sri Lanka to tackle terrorism, the Premier said India will fully cooperate with Sri Lanka's fight against terrorism.

Describing the meeting with Mr. Rajapaksa as fruitful, Mr. Modi said, a strong and prosperous Sri Lanka is not only in the interest of India but in the interest of the entire Indian Ocean region. He assured India's help in the overall development of the country.