China agreed to finance express train for Bolivia

China agreed to finance express train for Bolivia In 2009, China agreed to finance an express train in Bolivia. The project will require an investment of $600 million USD. The rail service will reduce the travel time between La Paz and Oruro. The bullet train will develop travel time averages between 150 and 200 kilometers per hour.

The funding, which would take on the form of credit, was agreed to this week at a meeting in New York between Presidents Evo Morales and his Chinese counterpart, Hu Jintao, who attended the 64th session of the UN General Assembly. Specific terms of financing are unknown. Loan applications and disbursements are still being received and processed as the projects continue to evolve.

Ongoing monitoring and evaluation are in place to ensure project continuity.