India-Mongolia Current Affairs

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India extends 1 billion dollar Line of Credit to Mongolia

India has extended 1 billion US dollars a Line of Credit (LoC) to Mongolia to develop institutions, infrastructure and human resources in Mongolia.

It was extended after delegation-level bilateral talks between the Union Minister of State (MoS) for External Affairs VK Singh and Mongolian Foreign Minister Lundeg Purevsuren in New Delhi.

Background

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

It was the first Prime Ministerial visit from India to Mongolia. During that visit, the two nations also had signed 14 agreements.

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India, Mongolia hold joint exercise ‘Nomadic Elephant’ to boost military cooperation

The eleventh edition of India-Mongolia joint military training Exercise ‘Nomadic Elephant – 2016’ has commenced at Mongolia.

It seeks to promote military associations between India and Mongolia. The first joint exercise was held in 2004 and since then it is annually held.

Key facts

  • Aim of exercise is to develop synergy and interoperability between the two armies to fight in Counter Insurgency and Counter Terrorism (CICT) environment under the United Nation mandate.
  • In this edition, a platoon of the Kumaon Regiment of the Indian Army along with a team of two observers is taking part in the event.
  • The Indian contingent will share its practical experiences of CICT operations through a series of classroom lectures and outdoor demonstrations.

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Union Cabinet approves MoU between India, Nepal for construction of petroleum pipeline

The Union Cabinet has approved a Memorandum of Understanding (MoU) between India and Nepal for construction of petroleum products pipeline from Raxaul (Bihar) in India to Amlekhgunj in Nepal.

The MoU seeks to promote bilateral cooperation in the oil and gas sector between both neighbouring countries and secure long term supply of petroleum products to Nepal.

Raxaul-Amlekhgunj petroleum pipeline: In the first phase it will be constructed by Indian Oil Corporation (IOC) on behalf of Indian Government at a cost of 200 crore rupees. IOC will be also engaged in re-engineering and construction of the Amlekhgunj Depot and allied facilities.

Approval to MoU between India and Mongolia

The Union Cabinet also gave its ex-post-facto approval to MoU between India and Mongolia to establish cooperative institutional relationship and to promote and encourage technical bilateral cooperation on new and renewable energy between both countries.

This MoU was signed during Indian Prime Minister Narendra Modi’s visit to Mongolia at Ulaanbaatar in May 2015.

Approval to MoU between India and France

The Union Cabinet also gave ex-post-facto approval to a MoU signed between India and France to establish cooperative institutional relationship to promote and encourage technical bilateral cooperation on new and renewable energy issues between both countries.

The MoU was signed in Paris during the Indian Prime Minister’s to France in April 2015.

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