Prime Minister Narendra Modi on Sunday announced that India would provide one billion U.S. dollars Line of Credit to develop institutions, infrastructure and human resources in Mongolia.
"Today I conveyed to [Mongolian Prime Minister Chimed Saikhanbileg] our decision to provide one billion U.S. dollars Line of Credit to develop institutions, infrastructure and human resources in Mongolia," Prime Minister Modi said, while addressing the Mongolian Parliament at
the State Great Khural.
Earlier in the day, Prime Minister Modi dubbed his visit to Ulaanbaatar as a 'significant milestone' after India and Mongolia signed over 14 agreements to strengthen bilateral ties between the two countries.
The Prime Minister also 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.
Prime Minister Modi, who arrived in Ulaanbaatar on Saturday night, is the first Indian prime minister to visit Mongolia.
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