PM announces $450 Million Line Of Credit to SL

The Indian PM said a stable Sri Lanka is not only in interest of India but for the entire Indian Ocean Region.

On his first foreign visit President Gotabaya Rajapaksa sealed a major deal Indian Prime Minister Narendra Modi with on security and development, including USD 50-million financial assistance for counter-terrorism efforts.

After a 'fruitful' meeting with Rajapaksa on Friday, PM Modi has announced a line of credit of USD 400 million for development projects in Sri Lanka besides granting a separate fund of USD 50 million to help the country deal with challenges of terrorism.

"I assured Sri Lankan president of India's help in the overall development of the country," He added, "India's line of credit of USD 400 million will further boost Sri Lanka's development," Modi said.

"We held fruitful talks. The focus was on security cooperation. We also focused on economic cooperation," said Rajapaksa.

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