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World Bank Agrees $800 mln loan for Turkey, Azerbaijan gas pipeline

The World Bank’s board of directors approved loans of $400 million each for Turkey and Azerbaijan, for the Trans-Anatolian Natural Gas Pipeline (TANAP) project late Tuesday, December 20, Anadolu Agency reports. The loans will be supplied through the World Bank’s subsidiary, the International Bank for Reconstruction and Development (IBRD). Turkey’s Petroleum Pipeline Corporation (BOTAS) will […]

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World Bank set to finance criticised mega gas pipeline from Azerbaijan to Europe

SUMMARY World Bank set to fund Azerbaijan and Turkey part of Southern Gas Corridor to Europe Concerns raised over significant risks due to geopolitical context, fossil fuel dependency Defined as “the biggest infrastructure project of our times“ by the European Commission and a priority for the European Union, the Southern Gas Corridor was always going […]

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IFC Supports Albania as it Increases Security of Energy Supplies

IFC, a member of the World Bank Group, and the Albanian Ministry of Energy and Industry have signed a Memorandum of Understanding designed to establish the day-ahead electricity market in Albania, bolster country’s electricity supplies and better connect it to the rest of Europe.  IFC will advise the Albanian government on the creation of the […]