Azercosmos has fully repaid a loan to BNP Paribas

15:49 - 14.06.2024

June 14, Fineko/ One of the most important points for Azercosmos in financial year 2023 is the full repayment of loan obligations relating to satellite projects in foreign currency in the long-term prospect.

ABC.AZ reports that Azercosmos has completed its loan obligations to bank BNP Paribas.

Thus, in 2011, as a result of cooperation with the U.S. Export-Import Bank, a loan agreement was signed to finance payments to American corporation Orbital Sciences (now Northrop Grumman Innovation Systems) for the production of satellite Azerspace-1 and a loan for totally $116.6 million was received.

During 2013-2022, loan payments were made on time without any delays. In 2023, the obligations under the loan agreement were completely closed.