World Bank and AIIB approved loans for TANAP – Turkey, 22 December 2016

The World Bank’s Board of Directors has approved two loans of 400 million dollars each to Turkey and Azerbaijan for the construction of Trans-Anatolian gas pipeline (TANAP).
The loans will be supplied through the World Bank’s subsidiary, the International Bank for Reconstruction and Development (IBRD). In Turkey, state-owned pipeline operator BOTAS will receive a loan guaranteed by the state with 24 years maturity. In Azerbaijan, closed joint stock company Southern Gas Corridor (SGC) will obtain a loan, guaranteed by the state with the maturity of 30 years.

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