Pak Extends $50 mn Defence Line Of Credit To Sri Lanka

Wrapping up his two-day visit to Sri Lanka, Pakistani Prime Minister Imran Khan has announced a $50 million defence line of credit for the island nation. This comes barely days after India extended lines of credit worth $50 million and $100 million to the Maldives and Mauritius, respectively to boost their defence capabilities.

Khan, who’s the first foreign head of government to visit Colombo since the pandemic broke last year, urged Sri Lanka to use the Gwadar port, which is part of the China Pakistan Economic Corridor, to trade with Central Asia. He held separate meetings with Sri Lankan President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa besides taking part in a business and investment forum.

Khan’s visit comes against the backdrop of Sri Lanka pulling out of a 2019 agreement with Indian and Japan for developing Colombo Port’s East Container Terminal.