IFC – PIPELINE LOAN
November 1st, 2003
BY KEITH NUTHALL
THE WORLD Bank's International Finance Corporation is to lend US$250 million to help build the key Baku-Tbilisi-Ceyhan (BTC) pipeline that will carry EU-bound oil and gas into Turkey from the Caspian basin. The financing is a small part of the overall US$3.2 billion price tag. EU membership applicant Turkey will earn US$1.5 billion from pipeline and terminal operations, transit fees, and investments.
THE WORLD Bank's International Finance Corporation is to lend US$250 million to help build the key Baku-Tbilisi-Ceyhan (BTC) pipeline that will carry EU-bound oil and gas into Turkey from the Caspian basin. The financing is a small part of the overall US$3.2 billion price tag. EU membership applicant Turkey will earn US$1.5 billion from pipeline and terminal operations, transit fees, and investments.
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