CBBSS newsline: TANAP project to get additional $1.3 billion in financing

The European Investment Bank (EIB) is in the process of approving a $1.3 billion loan to the Trans-Anatolian Natural Gas Pipeline (TANAP) project, which will transport gas from Azerbaijan to Europe via Georgia and Turkey. Once all of the financing for the project has been secured, the TANAP team expects to receive a total of nearly $4 billion in loans. In addition to the EIB, major financing is also coming from the European Bank for Reconstruction and Development (EBRD), the World Bank and the Asian Infrastructure and Investment Bank (AIIB).