Azerbaijan fully repays its loan obligations for Azerspace-1 satellite

Azerbaijan last year fully repaid its loan obligations for its first satellite, Azerspace-1, the Digital Development and Transport Ministry of Azerbaijan said, Report informs.

Loan obligations of $116.6 million for the production of the satellite and $89.6 million for its launch (a total of $206.2 million) have been repaid.

Azerbaijan's income from telecommunications and optical satellite services to date has exceeded 550 million manats ($323.1 million). The Space Agency (Azercosmos) provides services to more than 200 clients from 50 countries in Europe, Africa, the Middle East and Central Asia through telecommunication satellites and space solutions.