La Paz (Reuters) - Bolivia’s vice president on Monday said the Andean country will receive a $7 billion credit line from China to finance investment in hydroelectric energy and road and rail infrastructure.
Vice President Alvaro Garcia Linera said the financing would more than double Bolivia’s external debt to about $13 billion, or 35 percent of the country’s gross domestic product, but that it remained sustainable at those levels.
Garcia Linera said the rate of interest would be negotiated on a project-by-project basis.
“Financing will be negotiated on a case-by-case basis. It’s not a single package but a collection of projects worth a total $7 billion,” Garcia Linera told reporters after returning from a trip to China.
Reporting by Daniel Ramos; Writing by Richard Lough; Editing by Dan Grebler