• Thu. Oct 21st, 2021

Pakistan Offers $50 Million New Credit Line to Sri Lanka to Boost Defence Ties

Cash-strapped Pakistan has offered a $50 million new credit line to Sri Lanka to boost cooperation in the defence and security sectors. Pakistan Prime Minister Imran Khan announced the new credit line during his two-day visit to the island nation that concluded on Wednesday, according to a joint communique issued by the foreign ministries of the two countries.

“Both sides expressed satisfaction at the existing bilateral cooperation in the field of defence and noted that the elevation of staff-level talks to Defence Dialogue has further provided an opportunity to expand security sector relations. Prime Minister Imran Khan announced a new $50 million defence credit line facility,” the communique said.

The two sides stressed the need for stronger partnership for supporting and coordinating with each other in dealing with matters related to security, terrorism, organised crime and drug and narcotic trafficking as well as intelligence-sharing, it said.

Khan, who is the first head of state to visit Sri Lanka since the COVID-19 pandemic, met his Sri Lankan counterpart Mahinda Rajapaksa and President Gotabaya Rajapaksa during his visit in which they discussed areas of common interest like tourism, agriculture and trade ties.

“Thank you Prime Minister @PresRajapaksa and the people of Sri Lanka for a warm welcome and gracious hospitality. Sri Lanka is a special friend and strong partner. I agree that the cooperative ties between our two nations are poised to grow and strengthen,” Khan said in a tweet. (PTI)

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