Azerbaijan and WB to sign loan deal on TANAP
Today Baku will host a ceremony for signing of a loan agreement between Azerbaijan and the World Bank on the Trans Anatolian Natural Gas Pipeline (TANAP) project, the WB Baku office said.
The signing ceremony will be held as part of the Baku trip of the WB Regional Director for South Caucasus Mercy Tembon.
The WB allocated $400 million for Azerbaijan for the project’s implementation, Trend reports.
The WB Board of Directors approved the $400 million loan for Azerbaijan on Dec. 20, 2016. Meanwhile, another loan worth $400 million was allocated for Turkey. Both loans will be used in the construction of the TANAP, which is a part of the Southern Gas Corridor (SGC).