Bolivian President Evo Morales said Wednesday that a telecommunications satellite to be built and launched by China would greatly contribute to Bolivia's development.

The two countries signed contracts in mid-December to build Bolivia's first telecommunications satellite, named Tupac Katari, and to put it into orbit within three years.

"Projects like the satellite will help Bolivia develop," Morales told a press conference at Palacio Quemado government house in La Paz.

"Regarding medium- and long-term projects beneficial for the country, there shall be no disagreement, because it is the hope and future of the Bolivian people," he said.

Morales rejected opposition lawmakers' view that the project was "silly waste," saying that those who object the satellite construction are "Bolivia's enemies."

He urged the opposition to give up their "backward" political standpoints because the satellite will provide telecommunications service to the entire country and support the country's education and medical initiatives.

The satellite is named after Tupac Katari, an 18th century indigenous hero who fought for the country's independence against Spanish colonialists.