PM Modi announces $450 mn Line of Credit to Sri Lanka

New Delhi: Prime Minister Narendra Modi on Friday announced a financial assistance of $450 million to Sri Lanka, including $50 million to fight terrorism, after holding "fruitful" talks with the island nation's newly elected President Gotabaya Rajapaksa on maritime security, demands of Tamil minorities, concerns of fishermen and ways to boost security and trade ties among others.

Assuring New Delhi's unflinching support to Sri Lanka's journey for prosperity, Modi, in a media statement, said the security and development of the two maritime neighbours were "inseparable" and it was natural that both countries remain mindful of each other's security interests and sensitivities.

The prime minister said he has assured President Rajapaksa of India's commitment to a development partnership with Sri Lanka which will be in accordance with the priorities of the people of the island nation.

Meanwhile, Rajapaksa invited Prime Minister Narendra Modi on Friday to visit the island nation, saying India was a long-standing friend of his country.