China will help Bolivia launch a telecommunications satellite, a media report said Thursday.

Visiting executive general director of the Bolivian Space Agency, Ivan Zambrana, said here Wednesday that China will help Bolivia in building and launching a satellite.

It will also help build a monitoring station and train the staff to operate the equipments, China Daily reported.

The services will cost Bolivia about $294 million.

"If we had signed satellite contracts with developed Western countries, it would have cost at least $350 million for the whole project," Zambrana said.