ULAN BATOR, Sept. 3 (Xinhua)-- The Development Banks of Mongolia and Russia on Wednesday signed a note of obligation to strengthen cooperation.
The note of obligation was signed by directors of the two banks during the working visit of Russian President Vladimir Putin to Mongolia.
The two banks agreed to promote high-level cooperation between them, fund trade projects of the two countries and trade with national currencies on some items.
According to the agreement, the Russian Development Bank will provide approximately 74 million U.S. dollars of investment for the extension of Mongolia's Thermal Power Plant-4.
Putin arrived in Ulan Bator earlier Wednesday for a one-day working visit.