The state-run JSC Azerkosmos signed a loan agreement worth EUR 100 million with Sumitomo Mitsui Banking Corporation (SMBC) and Mizuho Bank. It is repayable over 11 years. The loan is guaranteed by the French export & credit agency COFACE, said an official statement of Azerkosmos on 11 November.
The funds are drawn to finance the Azersky satellite system and the related ground infrastructure. The loan interest rates of the Japanese banks are not reported.
In the press release Azerkosmos noted that under this loan agreement Airbus Defense and Space (France) will provide its satellite system launched into orbit on June 30, 2014. The French company will also supply ground-control technology and equipment for the automatic processing of images from the satellite, a ground receiving station and the associated services.
The satellite of remote sensing of the Earth Azersky will be in orbit for at least 12 years. -0--
Economics
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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Turkey aims to achieve carbon neutrality by 2053, transforming key sectors of its economy in line with a vision of "net-zero emissions and green development," President Recep Tayyip Erdogan announced at COP29 in Baku on Monday.
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