Iran’s top diplomat in Bolivia, Masoud Edrisi, announced on Wednesday that Iran’s government has approved a $280 million low-interest loan for the Bolivian government to use as they see fit, including oil and natural gas exploration projects. Edrisi said that the final terms of the loan have not yet been established.
This announcement comes just after the Israeli foreign minister Avigdor Lieberman wrapped up a 10-day tour of Latin America last week, aiming to counter Iran’s influence in the region.
Since taking office, Iranian President Mahmoud Ahmadinejad has established stronger ties with Latin America, especially with Bolivia, Venezuela, Cuba and Nicaragua. In August 2007, Iran pledged to invest 1.1 billion euros ($1.54 billion US) in Bolivia‘s agriculture, energy, industry, and humanitarian sectors.