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WB allocates $800M to TANAP

21 December 2016 09:02 (UTC +04:00)

The World Bank’s Board of Executive Directors approved a US$400 million loan for Turkey and a US$400 million loan for Azerbaijan for the Trans-Anatolian Natural Gas Pipeline (TANAP) Project.

“We are very pleased to be part of a coalition of partners supporting TANAP, a component of the transformational Southern Gas Corridor, which will bring natural gas from the Caspian Sea to Europe,” said Cyril Muller, World Bank Vice President for Europe and Central Asia. “TANAP will not only boost competitiveness and create economic opportunities for people in Azerbaijan and Turkey, it will also support regional trade, improve connectivity, and support energy security in Turkey and in Europe.”