Date:24/07/12
“GTR: Trade Finance News” magazine ranked the contact, under which Azerkosmos JSC in 2011 received $98,000,000 loan from the French “COFACE” Export Agency in order to launch the first Azerbaijan’s telecommunication satellite Azerspace-1 into orbit, among the best contracts signed in 2011.
According to an article published in the magazine, Azercosmos, in spite of the financial crises and difficult market condition, was able to establish cooperation with French “Societe Generale” and “SMBC Europe” banks and to get such a huge loan on beneficial terms. The article says that this loan will allow Azercosmos to purchase “Arien-5” rocket from the “Arianespace” company.
“Such loans are given on beneficial terms in order to provide support to rapidly developing countries, which poses high economic potential”. It was mentioned in the article that earlier Azerkosmos obtained $116,6 mln. loan from the “BNP Paribas” bank to cover the expenses connected with the construction of the satellite. The loan was backed with a guarantee from Export-Import Bank of United States.
“The fact that the Azerbaijani Government acts as the main sponsor of this loan indicates the importance of this strategic project”. Information about rewards for the best contracts of the year may be obtained via the following internet link:
http://www.transactionservices.citigroup.com
Loan contract for ‘Azerspace-1’ ranked among best contracts of year
“GTR: Trade Finance News” magazine ranked the contact, under which Azerkosmos JSC in 2011 received $98,000,000 loan from the French “COFACE” Export Agency in order to launch the first Azerbaijan’s telecommunication satellite Azerspace-1 into orbit, among the best contracts signed in 2011. According to an article published in the magazine, Azercosmos, in spite of the financial crises and difficult market condition, was able to establish cooperation with French “Societe Generale” and “SMBC Europe” banks and to get such a huge loan on beneficial terms. The article says that this loan will allow Azercosmos to purchase “Arien-5” rocket from the “Arianespace” company.
“Such loans are given on beneficial terms in order to provide support to rapidly developing countries, which poses high economic potential”. It was mentioned in the article that earlier Azerkosmos obtained $116,6 mln. loan from the “BNP Paribas” bank to cover the expenses connected with the construction of the satellite. The loan was backed with a guarantee from Export-Import Bank of United States.
“The fact that the Azerbaijani Government acts as the main sponsor of this loan indicates the importance of this strategic project”. Information about rewards for the best contracts of the year may be obtained via the following internet link:
http://www.transactionservices.citigroup.com
Views: 1500
©ictnews.az. All rights reserved.
Similar news
- Baku Telephone Communication Production Association is building new base station
- Recreation center for communication workers has been reconstructed
- Hybrid post trade is created in Azerbaijan
- Azerbaijan in list of countries rapidly decreasing prices of communication
- All Azerbaijani TV channels are broadcast across Karabakh
- Memorandum of Understanding will be signed for “TESIH”
- New TV station will be built for digital TV
- New television station to be built in Baku
- Ministry of Communications and IT improved rules of conduct of civil servants
- Azerbaijani and French representatives of ICT sector to discuss cooperation
- The capital’s ATE central stations to be based on NGN technology
- Connection to ATE to be in electron format in Baku
- New computer room in “Communications Worker” health camp
- Azerbaijani Communications and IT Ministry agrees on terms of leasing Azerspace
- Introducing e-services in government agencies in Azerbaijan will prevent corruption and reduce bureaucracy
