World Bank can provide guarantees for Southern Gas Corridor project
The Multilateral Agency for International Guarantees (MIGA), a member of the World Bank Group, can accede to organization of the financing of the Southern Gas Corridor project.
"The World Bank may allocate up to $500 million as a loan. Moreover, MIGA may provide its guarantee coverage. The agency’s involvement in this scheme and the size of its guarantee coverage are still being discussed," abc.az cited the bank's message as saying.
Earlier, the Asian Development Bank (ADB) announced that it can allocate up to $1.505 billion. The approval of the funding is scheduled for August 22.