India Grants US$ 61.5M to Modernize Kankesanthurai Port

News Today: India’s US$ 61.5 Million Grant for Kankesanthurai Port Modernization

India has granted US$ 61.5 million to modernize the Kankesanthurai port, as announced by Indian External Affairs Minister Dr. S. Jaishankar during his visit to Sri Lanka. He informed Sri Lankan Foreign Minister Vijitha Herath that this grant, along with the possibility of converting US$ 20 million in payments for completed Line of Credit projects into grants, demonstrates India’s continued commitment under its ‘Neighbourhood First’ policy. The meeting also discussed India’s willingness to expedite its MoU with Sri Lanka and highlighted support for ongoing initiatives in energy production, solar electrification, health, and digital infrastructure.

Dr. Jaishankar invited President Anura Kumara Dissanayake to visit India and reassured him that India’s economic support is essential to Sri Lanka’s recovery efforts. The President confirmed that Sri Lankan territory will never be used against India’s security interests. Additionally, Dr. Jaishankar noted that India was the first to provide financing assurances for Sri Lanka’s IMF Extended Fund Facility.

India also gifted 22 diesel locomotives to Sri Lanka, underscoring the deep ties between the nations. The Minister called for the release of Indian fishermen and boats detained in Sri Lanka, advocating a humanitarian approach to resolve this issue.