ECONOMY


Japan finances AzerSky satellite system

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Baku, November 12, AZERTAC

"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.

According to "Azercosmos", the loan guaranteed by the French export credit agency COFACE will be used to finance AzerSky satellite system and to establish the ground infrastructure.

Within the agreement, French Airbus DS company provides Azercosmos OJSC with the satellite system launched into orbit June 30, 2014.

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.

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