Bolivia Receives $251 Million Chinese Bank Loan to Pay for First Satellite
[Satellite TODAY 12-28-10] China’s development bank will lend Bolivia $251 million to finance the South American country’s first communications satellite, China Great Wall Industry Corp. (CGWIC) confirmed Dec. 27.
The financing will be used to help pay for Bolivia’s $295 million contract with CGWIC to build the satellite. The Bolivian government has agreed to put up the remainder of the funds.
The satellite is due to be launched in the next three years, will be used for communications and broadcasting services as well as for remote education and telemedicine projects.