Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Europe and Central Asia
  • Azerbaijan
  • Turkey
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Asian Infrastructure Investment Bank (AIIB)
Status: Approved
Bank Risk Rating: A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2017-03-01
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Southern Gas Corridor Joint Stock Company (SGC)
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Construction
  • Energy
  • Infrastructure
  • Transport
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 600.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported
Converted using 2017-03-01 exchange rate.
Project Cost (USD): $ 8,600.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

Currency conversion note:
Bank reported
Converted using 2017-03-01 exchange rate.

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Primary Source

Original disclosure @ AIIB website
Updated in EWS: 2017-11-08
Disclosure Date: 2016-11-15
Azerbaijan: Trans Anatolian Natural Gas Pipeline Project (TANAP)
AIIB-000011

Project Description
This project finances the Trans-Anatolian Natural Gas Pipeline, part of the larger internationally-sponsored Southern Gas Corridor Program. This project involves a large scale natural gas pipeline that will transport natural gas from the Shah Deniz 2 field in the Caspain Sea in Azerbaijan through Turkey and eventually to Europe.
Investment Description
The World Bank is also investing $800 million, and other international finance institutions (including the European Bank for Reconstruction and Development and the European Investment Bank) are investing another $2.1 billion.
Contact Information
AIIB: Project Team Leader: Hari Bhaskar Project Team Leader/Senior Investment Operations Specialist Tel: +86 10 8358 0167 Email: hari.bhaskar@aiib.org World Bank: Task Team Leader: Kari J Nyman Task Team Leader Tel: +1 (202) 458 1469 Email: knyman@worldbank.org Borrower: Afgan Isayev General Manager Southern Corridor Joint Stock Company (SGC) Tel: +994 12 521 30 92 Fax: +994 12 521 18 75 Email: afgan.isayev@sgc.az Implementing Agency: Yilmaz Ozturk Accounting Manager TANAP Natural Gas Transmission Company (TANAP) Tel: +90 312 999 1132 Fax: +90 312 999 11 12 Email: Yilmaz.ozturk@tanap.com ACCOUNTABILITY MECHANISM OF AIIB In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB’s policies, “people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank’s oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism.” However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.
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