China Eximbank expresses interest in financing the Viru Viru airport project

Viru Viru Airport In 2016, Bolivian President Morales announced the Viru Viru airport project [or Santa Cruz Airport Design and Construction Project] was contracted with Chinese company Beijing Urban Construction. The contracted amount is $300 million USD.

Bolivia stressed that the airport will be invested and constructed by the Bolivian government and will become the international passenger and freight logistics center after the completion of the project. The Bolivian government will seek loan support from the Export-Import Bank of China for the project.

Therefore, after the project is signed, the construction plan will also need to be evaluated by the Chinese financial institution. Viru Viru will include a new runway, three passenger terminals and cargo storage facilities. In March 2017, China Eximbank asked for external evaluation for the airport project.

In April 2017, implementation troubles were revealed when Bolivian Vice President Alvaro Garcia warned China EXIM Bank that if it does not speed up the release of funds for the project to transform Viru Viru airport into a new hub, it might be forced to seek alternative financing arrangements. It is not clear whether the bank will approve the money for this project yet.