The Asian Development Bank is considering a US$1.5bn financing to Azerbaijan’s 16.67% stake in the Southern Gas Corridor pipeline scheme to Europe.
The ADB is considering a partial credit guarantee to support commercial bank financing to fund the stake. If commercial bank financing is not available, ADB will consider a direct loan. In March the government raised a US$1bn bond issue for the scheme. It had been hoping to raise US$2bn but market conditions saw the issue size cut back.
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