Zee Media Bureau
New Delhi: Prime Minister Narendra Modi on Sunday said India would provide a line credit of USD 1 billion to support expansion of Mongolia's economic capacity and infrastructure during his talk with counterpart Chimed Saikhanbileg.
Prime Minister Modi, who arrived in Ulaanbaatar on Saturday night, is the first Indian prime minister to visit Mongolia.
Modi held wide ranging talks with his counterpart Chimed Saikhanbileg where the two sides inked 14 agreements covering defence, cyber security, agriculture, renewable energy and health sector.
"I am pleased to announce that India will provide a Line of Credit of USD one billion to support expansion of Mongolia's economic capacity and infrastructure," Modi said at a joint press interaction with Saikhanbileg at State Palace.
We can work together to advance peace, stability and prosperity in the region, Modi said.
Earlier in the day, the Prime Minister visited the Gandantegchinlen monastery in the city, where he interacted with the Hamba Lama and gifted him a sapling of a Bodhi tree.
This was followed by a ceremonial welcome that was accorded to him at the Mongolian State Palace at the Chinggis Khaan Square, where he also signed the guestbook.
With Agency Inputs
