GOTHA SECURES US$ 400 MILLION LINE OF CREDIT FROM INDIA

Lankan President Gotabaya Rajapaksa being greeted by President Ram Nath Kovind and Prime Minister Narendra Modi during a ceremonial reception at the Rashtripati Bhavan in New Delhi on Friday, November 29, 2019.   | Photo Credit: India has announced a $400 million line of credit for Sri Lanka. Prime Minister Narendra Modi also announced a financial assistance of $50 million to deal with the challenge of terrorism.

Sri Lankan President Gotabaya Rajapaksa, who is on a two-day visit to India said on Friday he would strive to take his country’s bilateral relationship with India to a “very high level”.

“Sri Lanka and India will work closely to ensure Indian Ocean remains a zone of peace,” Mr. Rajapaksa said after holding bilateral talks with Mr. Modi.

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Mr. Modi said India’s line of credit will boost Sri Lanka’s economy. Mr. Modi also said he was confident that the new government will fulfil the aspirations of the Tamil population in Sri Lanka.

Speaking to reporters after a ceremonial welcome at the Rashtrapati Bhavan, he also said both India and Sri Lanka need to work together on issues relating to security and overall welfare of the people of the two countries.

Sri Lanka’s newly elected President on Thursday arrived in New Delhi on his maiden state visit abroad after taking over the reins of Sri Lanka 10 days back in reflection of the importance he attaches to ties with India.

The Sri Lankan leader said his expectations from the visit was very high. Prime Minister Narendra Modi and Mr. Rajapaksa are holding talks covering the entire expanse of bilateral ties.

“During my tenure as president, I want to bring the relationship between India and Sri Lanka to a very high level. We have a long-standing relationship historically as well as politically,” Mr. Rajapaksa said.

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Both the countries need to work together on key issues like security, economic development and welfare of the people of India and Sri Lanka, he said.

“We need to work together for the benefit of the people of India and Sri Lanka,” Mr. Rajapaksa said in the presence of Prime Minister Modi and President Ram Nath Kovind.