AIIB ap­proves $600m loan for Azer­bai­jan

China Daily (Hong Kong) - - BUSINESS -

The Asian In­fra­struc­ture In­vest­ment Bank has ap­proved a loan of $600 mil­lion to fi­nance an en­ergy project in Azer­bai­jan. The de­ci­sion was made by the bank’s board of di­rec­tors on Wed­nes­day. The loan, the largest the bank has made, will be used to sup­port con­struc­tion of a nat­u­ral gas pipe­line from Azer­bai­jan through Turkey, known as the Trans Ana­to­lian Nat­u­ral Gas Pipe­line Project, the bank said on Thurs­day. Once com­pleted, the project will trans­port nat­u­ral gas from fields in Azer­bai­jan into Turkey and then on to mar­kets in south­ern Europe. The con­struc­tion of the pipe­line will cre­ate jobs in Azer­bai­jan and Turkey.

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