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India and Sri Lanka vowed to bolster ties during a visit to New Delhi by Sri Lankan President Anura Kumara Dissanayake on 16 December. It was first overseas visit of Sri Lankan president. The visit aims to expand very robust partnership and take its frontiers even further. The two leaders held talks and outlined several areas in which they plan to boost cooperation such as establishing a petroleum pipeline between the two countries and connecting their power grids.
President Mr. Disanayaka thanked India for its instrumental role in finalizing the debt restructuring and the provision of grant assistance to undertake development projects in Sri Lanka. In particular, he thanked India for its decision to extend USD 20.66 million as grant assistance to settle the payments related to seven completed line-of-credit projects in Sri Lanka.
Similarly, there is another grant assistance project that has been announced of USD 61.5 million towards the rehabilitation of Kankesanthurai Port in the northern province. This is also something that was to be executed through a line-of-credit, but will now be executed through a grant.
Prime Minister Shri Narendra Modi affirmed to continuecommitment to support Sri Lanka in its economic stabilization efforts for its economic recovery and economic growth. He further assured President Disanayaka that India’s approach would be investment-based and grant-oriented to reduce the debt burden on Sri Lanka and to assist them in generating economic opportunities that are long-term and sustainable and will eventually contribute to growing the absolute size of the Sri Lankan economy.
India-Sri Lanka Joint Statement
Both leaders have also adopted an India-Sri Lanka joint statement fostering partnerships for a shared future, providing a framework to strengthen the comprehensive bilateral partnership across several sectors, and these sectors include Parliamentary Exchanges, Development Cooperation, Debt Restructuring, Energy Cooperation, Trade and Investment Cooperation, Strategic and Defense Engagement, issues related to fishermen, among others.
The major announcements and initiatives that have been finalized during the visit have announced grant assistance of USD 14.9 million to undertake a Signaling System in the Maho Anuradhapura segment of Sri Lankan railways, thereby furthering, deepening our cooperation on the infrastructure-related front.
The two leaders also had a detailed conversation on promoting reconciliation in Sri Lanka. Prime Minister urged President Disanayaka for a full and effective implementation of the Sri Lankan constitution for meaningful devolution and for holding provincial council elections at the earliest.
President Mr. Disanayaka, while expressing his gratitude for the warm welcome and the hospitality that he had received here, extended an invitation to the Prime Minister to visit Sri Lanka. The Prime Minister accepted the invitation.
Outcomes of the Sri Lankan President’s visit
• Financial assistance scheme to 100 new students each annually from University of Jaffna and Eastern University until the end of academic courses of the beneficiaries.
• Grant assistance of USD 14.9 million for the signaling project in Maho-Anuradhapura section.
• Protocol Amending the Agreement between the Government of the Democratic Socialist Republic of Sri Lanka and the Government of the Republic of India for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income
• MoU between National Centre for Good Governance (NCGG), Government of India and Sri Lanka Institute of Development Administration(SLIDA) on Training and Capacity Building Programme for Civil Servants of Sri Lanka