WASHINGTON, December 20, 2016 - The World Bank’s Board of Executive Directors today approved the following project:
IBRD Loan: US $400 million to the Southern Gas Corridor (SGC) Closed Joint Stock Company with the guarantee of the Republic of Azerbaijan
Terms: Maturity = 30 years, Grace = 5 years
IBRD Loan: US $400 million to the Boru Hatları İle Petrol Taşıma Anonim Şirketi (BOTAŞ) with the guarantee of the Republic of Turkey
Terms: Maturity = 24 years, Grace = 5 years
Project ID: P157416
Project Description: The project objective is to diversify Azerbaijan’s gas export markets and improve the security of the energy supply in Turkey and South Eastern Europe.
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