LA PAZ, Bolivia - Iran's president opened his nation's wallet to Bolivia yesterday during a trip to strengthen ties with leftist leaders in South America, who are increasingly embracing Iran as a counterweight to US influence.
Mahmoud Ahmadinejad pledged to invest $1 billion in Bolivia over the next five years to help the poor Andean nation tap its vast natural gas reserves, extract minerals, generate more electricity, and fund agricultural and construction projects.
President Evo Morales of Boliva, who joins Venezuela's Hugo Chávez as one of Iran's key allies, called Ahmadinejad's visit historic. The two nations established diplomatic relations for the first time, and Morales pledged they "will work together from this day on, for our people, for life, and for humanity."