BAKU, Azerbaijan, October 13. Trans Anatolian Natural Gas Pipeline (TANAP) ranked first among TOP-10 largest directly financed projects supported by the World Bank Group (WBG), Trend reports via the research from Big Shift Global, a multi-stakeholder, global campaign coordinated by organizations from the Global North and South.
According to the report, Multilateral Investment Guarantee Agency (MIGA), a member of the WBG, has guaranteed $1.1 billion for the project in 2018.
“An impact of the pipeline will be to triple Azerbaijan’s exports of gas and to extend this to new markets,” Big Shift Global said.
Azerbaijan’s gas exports to Europe began on December 31, 2020 with the commissioning of the Southern Gas Corridor comprising of the South Caucasus Pipeline Expansion, the Trans Anatolian Natural Gas Pipeline (TANAP) and the Trans Adriatic Pipeline (TAP).
Meanwhile, Gas Storage Expansion Project in Türkiye ranked second among the largest projects invested by the WBG with $600 million in loan. Ghorasal Polash Urea Fertilizer Project in Bangladesh is the third biggest investment of the WBG ($357 million in guarantee).
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