Visiting Lanka PM gets $400m loan in India
India will lend Sri Lanka $400 million for infrastructure projects, Prime Minister Narendra Modi said yesterday after talks with the island nation’s new President Gotabaya Rajapaksa aimed at improving bilateral ties. Sri Lanka, located off the southern tip of India, has become an arena of competing influence between New Delhi and China. Rajapaksa, Sri Lanka’s former wartime defence chief, is on his first visit to India after a sweeping election victory earlier this month. Modi said India would provide Sri Lanka with $50 million for its security needs in addition to the $400 million for infrastructure.
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