Bolivia inaugurated the Mutun steel plant funded by a Chinese loan on February 24, 2025. The $546 million project aims to decrease the country’s reliance on metal imports, particularly due to foreign currency shortages. China’s financial involvement marks a significant expansion of its influence in South America.
Bolivia has inaugurated a new steel plant, the Mutun megaproject, on February 24, 2025, in Puerto Suarez, close to the Brazil border. The facility was primarily financed by a $546 million loan from the Export-Import Bank of China, positioning China to enhance its economic influence in the region. This initiative aims to alleviate Bolivia’s dependency on metal imports, which has been a challenge due to limited foreign currency reserves.
The inauguration of the Mutun steel plant represents a significant step for Bolivia in reducing its metal import reliance. By utilizing Chinese financing, Bolivia not only boosts its industrial capacity but also strengthens economic ties with China, reflecting the latter’s increasing presence in South America. This project could contribute to Bolivia’s economic development amidst ongoing foreign currency challenges.
Original Source: chinaglobalsouth.com
