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Mongolia|business|April 29, 2016 / 02:52 PM
India extends $1-bln loan to Mongolia

AKIPRESS.COM - India on 28 April 2016 extended a line of credit of 1 billion U.S. dollars to Mongolia following the delegation-level bilateral talks between India's Minister of State for External Affairs Vijay Kumar Singh and Mongolia's Foreign Minister Lundeg Purevsuren in New Delhi.

Besides, the two countries also agreed to exchange sentenced persons.

Lundeg Purevsuren was on a three-day state visit to India from 27 April to 29 April. This visit was a part of the intensified bilateral exchanges following the upgrade of bilateral relations during India's Modi visit.

The extended line of credit is the part of announcement made by Prime Minister Narendra Modi during his visit to Mongolia in May 2015. He announced the line of credit for economic expansion and infrastructure development.

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