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India offers USD 450m credit-line to Sri Lanka

President Rajapaksa told me of his inclusive political point of view on ethnic harmony. I am confident that the Sri Lankan Government will pursue the process of reconciliation to meet the aspirations of equality, justice, peace and respect of Tamils - Modi 

Prime Minister Narendra Modi announced on Friday financial assistance of USD 450 million to Sri Lanka, including USD 50 million for counter-terrorism, after holding talks with visiting Sri Lankan President Gotabaya Rajapaksa, Indian media reports said.



India's USD 400 million creditline to strengthen Sri Lanka's economy is in addition to India's ongoing projects in Sri Lanka. Under the Indian housing project, 46,000 houses have already been constructed in Sri Lanka; 14,000 houses are being made for Tamil origin people. USD 100 million credit line given for solar projects.

Condemning the April 21 Easter Sunday attack in Sri Lanka, Modi said India is extending a USD 50 million line of credit to Sri Lanka to fight terrorism.

"India has always condemned and fought against terrorism. India is extending a $50million line of credit to Sri Lanka to fight terrorism," Premier Modi said.

Commenting on India's counter-terrorism assistance, President Rajapaksa said, "I want to thank Premier Modi for offering a fifty million dollar line of credit to enhance the capabilities of the intelligence agencies." He also said, "With India, our corporation is multi-faceted with priority given to security-related matters".

Prime Minister Modi also congratulated Mr. Rajapaksa on his recent election victory and said it is a matter of honour for us that President Rajapaksa chose India for his first foreign trip.

"I want to extend my hearty congratulation to President Gotabaya for his election victory. I want to congratulate the people of Sri Lanka for successfully concluding the election process," Mr. Modi said.

"It is a matter of honour for us that President Rajapaksa chose India for his first foreign trip and gave us the opportunity to honour him in India within two weeks of taking office," he added.

Premier Modi said: "The mandate was given to you (Sri Lankan President Gotabaya Rajapaksa) is the expression of the ambitions of the people of Sri Lanka for a strong country. A strong Sri Lanka is not only in the interest of India but that of the entire Indian Ocean region."

The Indian premier expressed hope that the Rajapaksa government will take forward the reconciliation process to meet the aspirations of Tamil community in Sri Lanka which also includes the implementation of 13th Amendment.

Prime Minister Modi made these remarks after holding talks with President Rajapaksa, who is on a three-day visit to India.

"President Rajapaksa told me of his inclusive political point of view on ethnic harmony. I am confident that the Sri Lankan Government will pursue the process of reconciliation to meet the aspirations of equality, justice, peace and respect of Tamils," said Prime Minister Modi while sharing the stage with Rajapaksa.

"The procedure of reconciliation also includes the implementation of 13th Amendment," Premier Modi added.

"Sri Lanka and India share a strong bond. We give priority to our relations with Sri Lanka under our 'Neighbourhood First' policy," he added.

One to one conversation with Indian Prime Minister

Mr. Modi said he and President Rajapaksa held discussions on a wide range of issues including the mutual security and against terrorism. They also discussed the issue of fishermen.

"I have discussed in detail with President Rajapaksa on strengthening bilateral cooperation for mutual security and countering terrorism. Sri Lankan police officers in major Indian institutions are receiving counter-terrorist training," he said.

On the thorny issue of Indian fishermen poaching in Sri Lankan waters, Mr. Modi said, "We also discussed issues affecting the livelihood of fishermen. We agree that we will continue to have a constructive and humanitarian approach in this matter."

President Rajapaksa assured that his country will take steps to release the Indian fishermen's boats which are in the island nation's custody.

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