US Eximbank to grant credit for Azerbaijan to produce first communication satellite

The US Export-Import Bank is about to announce the final details of its financing agreement with the Azerbaijan government for the production of the country’s first national communications satellite, Azerspace/Africasat-1a project, at the end of this month or early July this year, the bank said.

Based on Orbital’s flight-proven STAR-2 platform, the satellite will generate approximately five kilowatts of payload power for 36 active transponders to provide services to South Caucasus, Central Asia, Europe and Middle East.

The Bank endorsed a US $116.6 million grant with a 10-year repayment period.

The borrower and the buyer will be the Azercosmos OJS Company with guarantees from the Azerbaijani Ministry of Finance.

The Azerbaijani Diaspora in the US welcomed the US Bank’s approve a loan for financing the project.


/APA/