Why was Upper Peru named Bolivia?

Following the liberation of Upper Peru from Spanish royalist forces in 1825, the region's congressional leaders chose to name the new republic Bolivia in honor of Simón Bolívar.123

The name was adopted as a variation of the Liberator’s name to recognize his support for the region's independence. After the territory was liberated by forces under the command of Antonio José de Sucre, local leaders successfully persuaded Bolívar and Sucre to grant the region autonomy rather than incorporating it into neighboring Peru or Argentina. On August 6, 1825, the congress declared the country independent and subsequently invited Sucre to serve as its first president.132