The Governments of Bolivia and China exchanged reversal notes in La Paz for the evaluation of a loan intended for a zinc refining plant and the provision of computer equipment, reported the Bolivian Ministry of Foreign Affairs.
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“In the framework of the relations of cooperation and friendship between Bolivia and China, the exchange of Reversal Notes was carried out for the preliminary evaluation of the Preferential Credit Project of the Zinc Refining Plant,” details the statement from the Bolivian Foreign Ministry.
Reversal notes are two identical diplomatic documents that are normally used to specify the understanding between two countries on a particular subject.
In the last decade, China has established itself as Bolivia’s second largest trading partner and largest supplier of bilateral financing.
In addition, Chinese companies are the largest contractors of public road infrastructure works, with more than 60 entities that have created more than 4,000 jobs, according to an article by the former Chinese ambassador in La Paz, Lian Yu, quoted in an article in the state newspaper Change.
Bolivia and China established diplomatic relations in 1985 and since then economic, cultural, military and educational ties have been rapidly expanded. Both nations celebrated the 25th anniversary of diplomatic relations in Beijing on July 9, 2010.