On August 26, Chairman Dongsoo Kim of Korea Eximbank and Madame Secretary Viviana Elba Caro Hinojosa of the Ministry of Development for Bolivia signed a loan agreement providing USD 41 million for the Banegas Bridge Construction Project as President Lee Myung Bak of Korea and President Evo Morales of Bolivia watched after a summit talk at the Blue House.

The Banegas Bridge Construction Project is one of the most important national projects in Bolivia as it is expected to establish the shortest distribution network connecting the Atlantic Coast of Brazil, the inland area of Bolivia, and the Pacific Coast of Chile. It also comprises a section of the highway construction project connecting Santos Port in Brazil to Arica Port in Chile.

Although Bolivia is rich in natural resources such as lithium and tungsten, the landlocked nation faces difficulties in transporting the resources. Thanks to the project however, Bolivia will have greater access to ports for transportation of resources and be better positioned to achieve economic development through resource development and increased exports.

President Morales was deeply impressed by Korea's bridge construction technologies demonstrated during construction of the Pailas Bridge in Bolivia, a project supported by EDCF, and actively sought EDCF financing for the Banegas project as well.

Korea Eximbank stated, "Through support for Bolivia's transportation infrastructure, we not only help Korean companies advance into natural resource sectors in Bolivia and South America, but also support Korea's resource diplomacy."