USD 1bn credit line to Mongolia

Published on May 17, 2015 10:27:27 AM
Prime Minister Narendra Modi announced a credit line of $1 billion to Mongolia to expand its economic capacity and infrastructure, during his first visit to the country.
Narendra Modi, the first Indian Prime Minister to visit Mongolia, held high level talks with his counterpart Chimed Saikhanbileg and signed 14 agreements which include defence, cyber security, agriculture, renewable energy and health sector.

Stating Mongolia is an integral part of India’s Act East Policy, Modi added that the destinies of the two countries are closely linked with the future of Asia-Pacific region.