Indian Prime Minister Modi Says USD 400 Million Line Of Credit For Sri Lanka Will Boost Infrastructure And Development

November 29, 2019

Indian Prime Minister Narendra Modi said a new $ 400 million line of credit will give a boost to infrastructure and development in Sri Lanka.

Making a special statement after bilateral discussions with Sri Lankan President Gotabhaya Rajapaksa, Modi said, "I am confident that the Sri Lankan economy will benefit as well as this Line of Credit will also accelerate the Project Cooperation of mutual benefit between the two countries."

He also added, "We are delighted that under the Indian Housing Project, 46,000 houses have been constructed for the internally displaced in the Northern and Eastern Provinces of Sri Lanka."

"There is good progress in the construction of 14,000 houses for Tamils of Indian origin in the Up-Country region. I am also pleased that we have agreed to use the previously announced $ 100 million credit line for solar projects in Sri Lanka early. There was a good discussion between President and me on 20 community development projects and other people-centric projects issued by India in Sri Lanka on the basis of grants in education and infrastructure. "

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