Japanese banks to finance AzerSky satellite system (UPDATE)
details added (first version posted at 19:40)
Baku, Azerbaijan, Nov. 11
"Azercosmos" OJSC signed a loan agreement with the Japanese Sumitomo Mitsui Banking Corporation and Mizuho Bank in the amount of 100 million euros for 11 years, "Azercosmos" said Nov. 11.
The loan guarantees will be ensured by the French export credit agency COFACE.
The loan will be used to finance AzerSky satellite system and to establish the ground infrastructure.
French Airbus DS company provides Azercosmos OJSC with the satellite system launched into orbit June 30, 2014 as part of the agreement.
The system, equipped with advanced French technologies, also includes a ground control segment, the equipment automatically processing the satellite images, a multi-mission station, the mission equipment and relevant services.
The Azersky satellite was transferred to Azerbaijan on the basis of an agreement signed between the Azercosmos OJSC and the French Airbus Defence and Space December 2, 2014.
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