Bangladesh Telecommunication Regulatory Commission (BTRC) yesterday struck a loan agreement of 157.5 million Euro (equivalent
Tk 1,400 crore) with Hongkong and Shanghai Banking Corporation (HSBC) for the financing of country’s first ever “Bangabandhu-I” satellite, reports BSS.
BTRC Chairman Dr Shahjahan Mahmood and HSBC Bangladesh Deputy Chief Executive Officer M Mahbub Ur Rahman signed the agreement yesterday afternoon.  State Minister for Posts and Telecommunications Tarana Halim and France Ambassador to Bangladesh Sophie Aubert were present on the occasion.
Earlier on November 11 last year, the telecom regulator signed an agreement ThalesAlenia Space, awarding the French firm work
order for manufacturing and launching the commercial and broadcast satellite.
The government wants to launch the satellite, involving Tk 2,967.95 crore, on December 16 on the occasion of the 45th anniversary of the country’s victory in the Liberation War.
Of the total cost, the government is providing Tk 1,315 crore from national exchequer while the remaining Tk 1,652.44 crore is being provided by bidder’s financing.
Speaking about the agreement, BTRC chairman said HSBC has provided fund with 1.51 per cent interest rate which would be repaid with 20 installments in 12 years.
He said the financing would cover several components of the satellite such as ground station, insurance and maintenance for three years after launching.
The ThalesAlenia Space will manufacture, launch and maintain the satellite for providing communication and broadcast services. The firm will get 24 months time to launch the satellite.
Tarana Halim said after conquering the sea, now Bangladesh is going to conquer the space and it would be possible on December 16, 2017. Terming the loan agreement as another milestone, the state minister said “We are working in phase by phase to attain the goal and the loan agreement has been inked following the law.”
Besides, French Ambassador Sophie Aubert said, one more stake being fulfilled and she hoped the work would be completed time.
Officials familiar with the launching process said a satellite is sent into space on top of a rocket.
Aimed at averting any kind of risk, Bangladesh has decided to keep ready a spare rocket for the launch that may increase the cost slightly.
Bangladesh will be the 54th country when the satellite would be launched into the orbital slot on 119.1 degree east longitude which (slot) was bought from Russian satellite company “Intersputnik” for US$ 28 million last year.
The Bangabandhu satellite will have 40 transponders, which would be able to serve SAARC countries, Indonesia, and the Philippines, as well as countries such as Turkmenistan, Kyrgyzstan and Tajikistan.