By TIOL News Service

MONGOLIA, MAY 17, 2015: ON the second leg of his three-nation tour the Indian Prime Minister, Mr Narendra Modi, arrived in Mongolia and was accorded warm welcome. While addressing the gathering he announced that India would provide a Line of Credit of one billion U.S. dollars to support expansion of Mongolia's economic capacity and infrastructure.

"Supporting development of human resources is the best way to secure a nation's development. We reiterated our commitment to continue our efforts in Mongolia. India will increase the ITEC training slots for Mongolia from 150 to 200. We will also establish an India-Mongolia Joint School, " he added.

While speaking to the media persons the Prime Minister said, "Later today I will have the pleasure to lay the foundation stone for the expansion and upgrading of the Atal Bihari Vajpayee Center of Excellence for Information and Communication Technology. I will also visit the National Cancer Centre to gift Bhabhatron II. It is state of art nuclear medicine cancer therapy machine, developed and manufactured in India."

India and Mongolia are expected to sign agreements for cooperation in border security and cyber security. Cooperation between National Security Councils will provide a strategic framework for cooperation. India will help establish a cyber security centre in Mongolia’s defence and security establishment.

India's trade and investment relations are modest. The PM said, "We recognise that there are physical limitations. But, we agreed that economic growth in our two countries is opening up new opportunities. There is huge potential in civil nuclear sector, mining, healthcare, pharmaceuticals and dairy. We should also explore the possibilities of using digital technology to expand our economic relations."

PM also expressed his appreciation for Mongolia's strong support for India's permanent membership of United Nations Security Council.