WB can start financing for TANAP gas pipeline project

The Bank reports that last week it received the Environment Impact Assessment (EIA) on the gas pipeline. As a result, the estimated cost of TANAP has decreased from $9.8 bn to $9.2 bn, Fineko/abc.az reports.

The International Bank for Reconstruction & Development (IBRD) can allocate about $1 bn loan for the project," the WB informed.

The recipient will be Turkish company BOTAS.

Previously, the loan approval was scheduled for 7 July 2016. The WB Board of Directors has not made any new estimates of its consideration.