Sri Lanka is seeking a credit line of US$ 300 million from Russia to buy military and landmine clearing equipment, military transport helicopters, arms and ammunition and other weaponry.
The deal is to be finalized during President Mahinda Rajapaksa’s planned visit to Russia next month if he wins the election on Tuesday, government sources said.
Also included in the deal is sharing of combat experience, they said.
Finance Ministry officials were not available to clarify the proposed deal.
The sources, who declined to be identified, said the presidential tour was planned for next month and was aimed at strengthening economic ties.
There is no Russian credit line for Sri Lanka at present but the country has entered into several bilateral agreements with Russia in the past. Russia recently provided assistance to meet post-conflict challenges, including the provision of relief items and US$ 500,000 through the UNHCR.
Russia has given an assurance to Sri Lanka that it will provide assistance for the restoration of peace and reconstruction, and for expeditious relief to a large number of internally displaced people, the sources said.