Wednesday, October 28, 2020
Home Politics PM Modi gives socio-economic gifts to Lanka; offers $318 million support for...

PM Modi gives socio-economic gifts to Lanka; offers $318 million support for railways

B_99BCwU0AEhSx9

By Newsgram Staff Writer

Prime Minister Narendra Modi who reached Colombo today, made various important and supportive agreements with his Lankan counterpart.

The two nations have decided to set up a Joint Task Force to improve the Indian Ocean economy. India will also provide a fresh line of credit of up to  $318 million for the railways sector which will be used to procure rolling stock, and to restore and upgrade existing railway track.

Apart from this the Reserve Bank of India and the Central Bank of Sri Lanka have agreed to enter into a Currency Swap Agreement of  $1.5 billion which will help keep the Sri Lankan rupee stable.

Narendra Modi also signed some social deals to improve connectivity, cooperation and tourism between the countries. Schemes like ‘Tourist Visa on Arrival – Electronic Travel Authorization’ will be extended to Sri Lankan citizens. Air India will also start direct flights between New Delhi and Colombo soon. A  Memorandum of Understanding on cooperation in youth affairs was also singed ‘ As an important long term investment in our relationship’ Modi said.

The prime minitser also discussed the issue of fishermen with the Sri Lankan President. He said it’s a complex issue concerning livelihood and  humanitarian concerns on both sides and require a long term solution. He added that the two governments can implement the mutually acceptable arrangement between the fishermen`s associations of India and Sri Lanka.

STAY CONNECTED

19,120FansLike
362FollowersFollow
1,779FollowersFollow

Most Popular

Women Experience Depression Even After 3 Years of Giving Birth

Researchers have found that approximately one in four women experienced high levels of depressive symptoms at some point in the three years after giving...

Lack of Monitoring Stations to Quantify Air Pollution in India

With Delhi facing another tryst with air pollution, several environmental experts believe that the problem goes beyond the national capital and that the country...

Nutritious Snacks for the Virtual School Breaks

The pandemic has forced children to go back to school with virtual learning having swapped classroom teaching. Although school in 2020 may look way...

Books that Address Children’s Mental Health

In these unprecedented times, when isolation fatigue, gloom, and the fear of losing a beloved has also come to grip children, taking care of...

Air Pollution Linked to 15% of COVID Deaths Worldwide

In a major global study, researchers have revealed that long-term exposure to air pollution may be linked to 15 percent of COVID-19 deaths worldwide. According...

Ketogenic Diet could Prevent or Reverse Heart Failure

Heart problems? A special diet might help as researchers have found that the popular and controversial ketogenic diet could completely prevent, or even reverse...

Technology to Produce Psychoactive Drugs by IIT Guwahati

Indian Institute of Technology Guwahati (IIT-G) on Tuesday said its researchers have developed a low-cost membrane technology to produce psychoactive drugs and anti-aging compounds...

Fashion Hubs Burgeon into Fresh Farm Outlets

In recent days, people passing by some of the biggest fashion hubs in Mumbai rub their eyes in disbelief at what they behold. Instead of...

Recent Comments