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India and Sri Lanka have inked a MoU for the development of 49,000 houses at the cost of $260 million in Sri Lanka. The agreement was signed by the External Affairs Ministers of both the countries. The four other pacts in the fields of railway, finance, agriculture and telecommunications were also signed.
As per the MoU, 49,000 houses will be constructed in the war-torn areas of Kilinochchi, Jaffna and neighbouring places. A pilot project entailing construction of 1,000 houses is underway. The MoU involves reconstruction of 38,000 houses, repairs of 5,000 houses for IDPs and construction of 6,000 houses for displaced people.
Both the nations have also inked a pact of Line of Credit of $82.37 million for the restoration of the Northern Railway Services. The LoC will be used for the development of tracks on the Pallai-Kankesanthurai section, establishing of signalling and telecommunication systems for the line. Both the sides also concluded an agreement for cooperation in the fields of agricultural science and technology and agro- processing via joint activities, programmes and personnel.
Besides, the Telecom Regulatory Authority of India and Telecommunication Regulatory Commission of Sri Lanka have signed an agreement for setting up a mechanism of technical and institutional cooperation in the field.
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