Iran approves $254 mln credit for Bolivia

Iran will extend a credit of 200 million euros (254 million U.S. dollars) to Bolivia as development aid, visiting Iranian Industry and Mining Minister Ali Akbar Mehravian said Monday.

Mehravian made the announcement at a joint press conference with Bolivian President Evo Morales in Quemado Palace, adding that "we enjoy our mutual respect and will continue our collaboration."

The minister said bilateral cooperation will cover technology transfer, geological and mineral exploration, the expansion of textile factories and milk production plants.

Morales told reporters a top-level Bolivian delegation led by Development Planning Minister Viviana Caro will visit Iran by the end of next month to evaluate the enforcement of the cooperation agreements.

In November 2009, Morales and his Iranian counterpart Mahmoud Ahmadinejad agreed in La Paz to enhance bilateral cooperation and vowed to jointly fight for the "dignity and sovereignty" of their peoples.

Source: Xinhua