The Africa Development Bank (AfDB) has contributed $25million in loan for the launch of 'New Dawn,' an African satellite project.
'The New Dawn' project fund will comprise the design, construction, launch and operation of an African Communications Satellite system into the 33 degree east orbital location.
The project is a brainchild of Intelsat, a South Africa based satellite agency and global leader in satellite operations. With financial assistance from partners Intelsat has been able to raise $250million required for completion of the project.
The launch and the operation of the satellite will commence from 2011.
According to a representative of the Africa Development Bank, the project is aimed at fast tracking development in Africa: 'The project responds to strong demand for satellite supply capacity, driven by efforts by mobile operators to expand their service to underserved areas, support businesses and remote communities and boost socio-economic development.'
The bank also said, the project is in consonant with it aims at the ICT strategy in Africa, which sets out regional and national infrastructure is its first priority.
'This includes international connectivity to the rest of the world, regional back haul links that interconnect countries, national backbones that extends access beyond major cities and last-mile connectivity to rural and underserved communities' the AfDB said.