Loan agreement to be signed soon on Azerspace satellite construction
Azerbaijan, Baku, Aug.9 / Trend, H.Valiyev /
Azerbaijani side, the US Ex-Im and French bank of BNP Paribas will soon sign a loan agreement to construct the first Azerbaijani telecommunication satellite Azerspace, a source close the project told Trend.
The agreement will be trilateral. The loan worth $116.6 million will be allocated by the US Ex -Im to Azerbaijan based on funds borrowed from the French bank of BNP Paribas.
The cost of launching the satellite is $94 million, 85 percent of which will be provided to the Azerbaijani side in the form of a loan, and the remaining 15 percent will be paid by state funds.
The deal will be financed by US Ex -Im with a two-year period for the use of funds and a ten-year repayment period.
Azerspace's manufacturer is Orbital Sciences Corporation. An orbital position of 46 degrees east longitude has been leased from Malaysian satellite operator MEASAT. French Arianspace will send the satellite into orbit.