AIIB allocates $600M for TANAP

AIIB allocates $600M for TANAP
  • Clock-gray 15:12
  • calendar-gray 18 November 2016

Baku. Yegane Lachinzade – APA-Economics. The Board of Directors of Asian Infrastructure Investment Bank (AIIB) will discuss allocation of $600 million for TANAP in March 2017. According to Interfax, the loan will be allocated to the Southern Gas Corridor CJSC.

 

The total cost of the TANAP project is currently estimated at $8.6 billion. Of this, $2.1 billion falls to share of the borrower, $600 million of AIIB, $800 million of World Bank, $2.1 billion of international financial institutions (EIB, EBRD). Nearly $3 billion is expected to be received from other financial institutions.  

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