India extends $1bn credit line to Mongolia

Indian PM Narendra Modi and Mongolian PM Tsakhlagin Elbegdorj

Indian PM Narendra Modi and Mongolian PM Tsakhlagin Elbegdorj

India is to extend a $1bn credit line to Mongolia to help expand its “economic capacity and infrastructure” Prime Minister Narendra Modi announced yesterday during his visit to Ulan Bator. Indian and Mongolian officials also signed 14 agreements covering defence, cyber security, agriculture, renewable energy and the health sector.