World Bank Says To Lend $500M To Azerbaijan For Gas Pipeline Project

Reuters

BAKU, June 1 (Reuters) - The World Bank is ready to issue a $500 million loan to Azerbaijan to help it finance the Southern Gas Corridor (SGC) pipeline project, a Baku-based World Bank official said on Wednesday.

"Azerbaijan has asked the World Bank for a loan to finance its share of the SGC and the bank has expressed readiness to allocate for this purpose $500 million," the official said.

The Southern Gas Corridor consists of a chain of pipelines which will transport gas from the Shah Deniz field in Azerbaijan to European markets.

(Reporting by Nailia Bagirova; Writing by Maria Kiselyova; editing by Katya Golubkova)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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