President says development cooperation is an important pillar of India-Sri Lanka ties

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President Ram Nath Kovind says development cooperation is an important pillar of India-Sri Lanka ties. During a meeting with Sri Lankan President Gotabaya Rajapaksa at Rashtrapati Bhavan yesterday, the President said India has always been keen to strengthen economic ties and investment links between the two countries. He said India wants Sri Lanka to be part of its growth story.

The President said as close neighbours, growth and progress of the two countries is tied together both have a common stake in the peace and prosperity of their neighbourhood. Mr Kovind said, both the nations should strengthen the cooperation in all fields to promote shared security and development. He added India is happy that its engagement with Sri Lanka in this regard has brought tangible benefits to the people. The President also said, India is ready to undertake more projects of mutual interest, as per Sri Lanka’s requirements and priorities.

A joint statement issued in New Delhi after the Sri Lankan President’s talks with Prime Minister Narendra Modi said India announced a 400 million dollar Line Credit to Sri Lanka to boost the island nation’s development.  Mr. Modi said India will also extend a 50 million dollar Line of Credit to Sri Lanka to fight terrorism. He said, strengthening mutual cooperation in dealing with terrorism was discussed in detail.  He assured the Sri Lankan President of India’s full assistance in taking his country on the path of rapid development.