According to the report by China Daily, the military plane crashed in the western city of El Alto. It further mentioned that Bolivia’s national airline, Boliviana de Aviacion, announced the temporary closure of El Alto International Airport following the crash.

The incident happened shortly after takeoff, and emergency services rushed to the scene. Videos showed chaotic scenes with people picking up scattered banknotes, prompting authorities to use water hoses to disperse the crowd.

The massive transport plane struck approximately a dozen vehicles on the highway before eventually coming to a rest in a nearby field.

Social media footage showed residents rushing to the site to collect the scattered money. Security forces were forced to use water hoses and tear gas to disperse the crowds and secure the crash site.

The Central Bank of Bolivia has since issued a statement declaring that these specific notes are not legal tender and hold no purchasing power, as they were destined for replacement/distribution and had not been officially activated.

The Bolivian Ministry of Defence has launched a formal investigation to determine if the crash was caused by mechanical failure or the severe weather conditions present at the time.

As of now, no official statement on the crash has been released. This is a developing story. (ANI)