European Investment Bank to allocate 1 bln EUR for TANAP

Baku. 5 February. REPORT.AZ/ The European Investment Bank (EIB) plans to allocate 1 billion Euros for implementation of Trans-Anatolian Pipeline (TANAP) project, which is considered for transportation of Azerbaijani gas to Turkey and Europe from there.

Report informs citing foreign media, bank's deputy director Pim van Ballekom said.

He noted this amount will be allocated to finance 'BOTAŞ' share in TANAP. Bank's official added the World Bank (WB) will also allocate funds for TANAP.

According to him, Managerial Board of the bank will approve the credit until the end of April: 'The first tranche is scheduled to be allocated till the end of August this year.'

Notably, the pipeline starts from the village Türkgözü of Ardahan province and passes through 20 regions, 67 villages.

Azerbaijan's President Ilham Aliyev and Prime Minister (current President) Recep Tayyip Erdogan signed an intergovernmental agreement between the two countries on the Trans pipeline on June 26, 2012 in Istanbul.