July 28, 2011 1:53 PM

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India extends 20 Million US Dollar ‘Line of Credit’ to Mongolia

India has extended a 20 Million U.S. Dollar Line of Credit to Mongolia for setting up an India – Mongolia Joint Information Technology, Education and Outsourcing Center in Ulaanbaatar. Besides, India will also upgrade and modernize the Rajiv Gandhi Art and Production School and the Atal Bihari Vajpayee Centre of Excellence in Information and Communication Technology. These decisions were taken following delegation level talks between the President Pratibha Devisingh Patil and her Mongolian Counterpart President Elbegdorj in Ulaanbaatar today. Briefing the media, Secretary East Sanjay Singh said, both the countries signed three agreements including defence cooperation and peaceful use of radioactive minerals and nuclear energy.AIR correspondent reports, both the countries have signed a treaty on Uranium extraction in 2009.

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