India as a friendly neighbour has assured Sri Lanka of it support for infrastructural development as the two countries strive to enhance cooperation in the various sectors. On his first bilateral visit to New Delhi since coming into power in September this year, Sri Lankan President Anura Kumara Dissanayake thanked India for its help in restructuring the bilateral debt. He had the opportunity to discuss the further steps, which would be taken in cooperation, with the Prime Minister Narendra Modi.
The PM Modi clearly states Indias willingness to cooperate in areas like housing, renewable energy, agriculture, dairy, fisheries and infrastructures in Sri lanka. Also, the President Dissanayaka promised not to allow its territory to be used in any manner prejudicial to the interests of India. Experts of international relations see this trip as a symbol of the stable and the development of the economic and infrastructure cooperation between two neighbors.
The visit comes after Sri Lanka switched its support back in favour of the CWIT project, a major deep water container terminal under development by a consortium comprising Adani Ports and Special Economic Zone Limited, John Keells Holdings Plc. and SLPA. It is planned to reach its operational activity at the beginning of the next year.
Adani Ports said the CWIT project will be financed through its resources and turned down a $553m loan offered by the US International Development Finance Corporation (DFC). Sri Lanka’s Ports Minister Bimal Rathnayaka meanwhile said that the terminal is fundamental for port income and reacquainted the government’s support for the successful construction of the terminals.
Many theorize that the project fits well into India’s regional strategy of checking China’s increasing regional dominance. The cooperation is based upon economic gains on both parties at the same time strengthening the political stability in the region of the Indian ocean.
The Colombo port terminal is a prima facie of strengthening ties between India and Sri Lanka and the emphasis of the two countries on sustainable growth and development.
