President Gotabaya Rajapaksa thanks India for $400mn LOC to develop infrastructure and economy

Colombo (News 1st) - Following the meeting between President Gotabaya Rajapaksa and Indian Premier Narendra Modi, the two heads of state hosted a joint media briefing. Addressing the briefing President Gotbaya Rajapaksa noted that his meeting with PM Modi was very cordial and reassuring adding that several important issues were discussed. National security took priority during the discussion according to President Rajapaksa as he revealed that India has pledged to support the enhancement of Sri Lanka's intelligence and counter-terrorism capabilities through a $50mn line of credit.  The President noted that Sri Lanka has had to rethink it's national security strategies after the incidents that transpired in April and that India's assistance would be appreciated. President Rajapaksa went onto note that while Sri Lanka's cooperation with India is multi-faceted, initiatives for cooperation with other countries are "by and large economic and commercial." The President also pledged to work closely with India to ensure that the Indian Ocean remains a zone of peace. While thanking PM Modi for his positive responses to many of the initiatives proposed to enhance Sri Lanka's economy, President Rajapaksa stated that their discussions also involves how the countries could work together on matters of economic importance as well as how Sri Lanka could benefit from certain economic sectors where India is strongly positioned.  The President also thanked India for extending a $400mn line of credit to improve infrastructure and economy in Sri Lanka. The President also stated that the matter relating to fishermen was also taken up for discussion and that a decision was reached to release all the Indian boats currently in Sri Lankan custody. President Gotabaya Rajapaksa also took the opportunity to invite PM Narendra Modi to visit Sri Lanka becoming the first head of state to arrive in the country after the Presidential election. PM Modi addressing the briefing noted that  "A strong Sri Lanka is not only in the interest of India but that of the entire Indian Ocean region," adding, "Sri Lanka and India share a strong bond. We give priority to our relations with Sri Lanka under our 'Neighbourhood First' policy." The Indian premier also stated that he believes the Sri Lanka government will take forward the procedure of reconciliation to fulfill ambitions of equality, justice, peace & respect of Tamils. Addressing the media briefing Prime Minister of India Narendra Modi said; "... The mandate that you have received expresses the aspirations of the Sri Lankan people for an organized, strong and prosperous Sri Lanka. In this regard, India's good wishes and cooperation are always with Sri Lanka. A stable, secure and prosperous Sri Lanka is not only in India's interest but also in the interest of the entire Indian Ocean Region. In line with my Government's "Neighborhood First" policy and SAGAR doctrine, we prioritize our relations with Sri Lanka. A new $ 400 million line of credit will give a boost to infrastructure and development in Sri Lanka. India has always opposed terrorism in all its forms and also expected action from the international community against other forms of terrorism, including cross-border terrorism. On the occasion of Easter this year, terrorists in Sri Lanka launched brutal attacks on the diversity of mankind and the valuable heritage of symbiosis. I went to Sri Lanka immediately after the elections in India to express India's unwavering support in the Sri Lankan fight against terrorist and extremist forces. I have discussed in detail with President Rajapaksa for mutual security and to further strengthen mutual cooperation against terrorism. Sri Lankan police officers in major Indian institutions are already receiving the benefit of counter terrorist training. I am happy to announce a special Line of Credit of 50 million dollars to Sri Lanka to combat terrorism. We also openly exchanged views on reconciliation in Sri Lanka. President Rajapaksa told me about his inclusive political outlook on ethnic harmony. I am confident that the Government of Sri Lanka will carry forward the process of reconciliation, to fulfill the aspirations of the Tamils for equality, justice, peace, and respect. It also includes the implementation of the 13th amendment. India will become a trusted partner for development throughout Sri Lanka including North and East ...."