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China promises to offer a 4.86 billion USD loan to Bolivia for infrastructure

China will provide Bolivia with a loan worth 4.86 billion US dollars (32.4 billion RMB) for infrastructure construction. The deal was confirmed during a meeting between Chinese Foreign Minister Wang Yi and Bolivian President Evo Morales. Bolivian authorities say they plan to use the loan to establish a new steel plant, a new hydro-electric facility and to improve the nation’s highways. Bolivia is the third stop of Chinese Foreign Minister Wang Yi’s South American tour, following trips to Ecuador and Peru.

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