The understandings were signed at the Foreign Ministry headquarters in the context of the Bicentennial of Bolivia and the commemoration of the 40th anniversary of diplomatic ties between the two countries.

A Foreign Ministry’s institutional release specifies that the first document signed is the Memorandum of Understanding (MoU) on the Global Development Initiative, which promotes inclusive cooperation in areas such as health and poverty reduction.

It also provides for industrialization and climate change using non-reimbursable assistance, interest-free loans, and funds for global development and South-South cooperation.

The second is the Economic and Technical Cooperation Agreement, through which China commits a non-refundable grant of 100 million yuan renminbi (rmb).The Chinese word “renminbi” (RMB) means “people’s money”. It was named so because it was issued by the people’s government of China.

A third text is to donate electronic equipment to the General Directorate of the Plurinational Diplomatic Academy to modernize its technological infrastructure and strengthen training processes.

Sosa thanked China for its continuous support through emblematic projects such as the Tupac Katari satellite, the zinc plant in Oruro, the lithium plant in Uyuni, and road works.

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