New Delhi: Signalling an upswing in their strategic ties nearly four decades after the IPKF episode, India and Sri Lanka on Saturday inked a defence pact to institutionalise military cooperation with Prime Minister Narendra Modi asserting that security of both the nations is interlinked and dependent on each other.
Following talks between PM Modi and Sri Lankan President Anura Kumara Dissanayake, the two sides firmed up a total of seven pacts, including one on developing Trincomalee as an energy hub under a trilateral framework, also involving the United Arab Emirates and another agreement on power grid connectivity.
While Modi reaffirmed that New Delhi will always stand with the people of the island nation, Dissanayake said Sri Lanka will not allow its territory to be used in any manner inimical to security interests of India as well as the region.
In the meeting, the prime minister pitched for resolving the vexed fishermen issue between the two countries with a humane approach and hoped that Colombo will fulfil the aspirations of the Tamil people and conduct provincial council elections.
In his media statement, Modi said India converted loans worth more than USD 100 million into grants in the last six months alone to help Sri Lanka and announced reducing interest rates for loans given to the island nation.
Apart from the seven pacts, India also firmed up a debt restructuring agreement as part of its economic assistance for Colombo with Modi saying it will facilitate immediate assistance and relief to the people of Sri Lanka.
Modi also announced a support package of approximately 2.4 billion Sri Lankan rupees for social and economic development of the Eastern provinces of Sri Lanka.
