Baku. 27 December. REPORT.AZ/ Multilateral Investment Guarantee Agency (MIGA) has approved its guarantee of 1.2 bln USD on the investments alocated for the Trans-Anatolian Pipeline (TANAP) project.
Report informs, decision was declared by the MIGA Board of Directors.
Notably, the guarantee by the MIGA will allow to reduce loans, attracted from other financial sources for the TANAP.
In addition, 800 million USD loan was allocated for the TANAP, by the decision of the World Bank Board of Directors on December 20 and 400 mln USD of the loan was got by the "Southern Gas Corridor" CJSC (SGC) with a guarantee of the Azerbaijani Government, 400 mln USD by Turkish BOTAŞ with a guarantee of the country's government.
Notably, MIGA is included in the World Bank Group and its main function is encouraging foreign direct investment (FDI) in developing countries.