Allocation of 1.5 bln USD by ADB for "SGC" project will be considered in July

Bank: The main purpose is to support the growth of revenues from the sale of Azerbaijani gas

Baku. 6 May. REPORT.AZ/ Azerbaijan is ready to see Asian Development Bank (ADB) as a main investor within "Southern Gas Corridor" (SGC) and "Shah Deniz-2" projects. 

Report informs, an official website of the bank says. 

The bank has announced that within the implementation of these two projects, ADB may consider allocation of 1,505 billion US dollars for Multitranche Financing Facility MFF.

The plan provides for the issuance of partial credit guarantees to support commercial banks to finance the state's share under the 16.67% per annum. 

At the same time it is noted that the program has not yet been presented, "On June 15-24 ADB mission will gather facts on the MFF. The bank's management will consider them on July 4 in the Board of Directors on August 22. 

The main purpose of the investment plan is to strengthen the fiscal position of Azerbaijan and increase revenue through the sale of gas.

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