A meeting was held yesterday in the city of Sirte, Libya, between the Secretary of the General People’s Committee for Finance and the delegation of directors and deputies of regional and international banks which are loaning money for the African satellite project.
The meeting discussed the objectives of the African Satellite, stages of its manufacturing and the coverage area where it will provide earth communication services, the Internet, radio and TV programmes, and connect the towns and cities of the African Union by mobile phone.
Members of the delegation affirmed that their financial institutions are prepared to finance the second stage of the project, which will cost about $130 million and be completed for inauguration in the second half of next year.
(Source: Libyan Jamahiriya Broadcasting Corporation)
