The US is lending $118 million in order for Vietnam to fund an extra communications satellite. The satellite, Vinasat-2, is already in orbit, having been launched in May. The cash is coming from The Export-Import Bank of the US, and will go to satellite builder Lockheed Martin Space Systems.
The craft is being operated by state-owned Vietnam’s Post & Telecommunications Group (VNPT), and they are looking to use the new satellite to cope with growing demand from telecommunications and TV broadcasters.
The satellite is operating over Vietnam and the adjacent territories of Cambodia, Laos and Thailand.