The pledge was made by India’s National Security Advisor Ajit Doval, when he met President Gotabaya Rajapaksa at the Presidential Secretariat yesterday.
The funding would be part of efforts in improving defence ties between the two countries, the President’s office said in a statement.
During the talks, India also pledged to provide assistance to Sri Lanka with technology on intelligence gathering.
The President’s office said President Rajapaksa and Mr Doval also discussed improving bilateral relations and strengthening cooperation between the armed forces and coastguard agencies of the two countries and maritime security.
Mr Doval pointed out the importance of reviewing the intelligence related to the maritime zone between Sri Lanka, the Maldives and India. He said other regional countries should also be brought into this process as observers, according to the President’s office.
(Except for the headline, this story, originally published by thesundaytimes.lk has not been edited by SLM staff)