Canada grants $2.14B loan to Telesat for low Earth orbit satellite project to provide high-speed internet by 2030.

The Canadian government has granted a $2.14 billion federal loan to satellite operator Telesat to establish low Earth orbit satellites, aiming to provide high-speed internet to remote areas by 2030. This initiative has sparked debates among politicians about potential national security risks related to American billionaire Elon Musk's involvement, as some suggest his Starlink service could be a cheaper alternative. Telesat insists the loan terms differ significantly from a grant.

September 21, 2024
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