Middle East Economic Survey

VOL. LII

No 49

7-Dec-2009

CASPIAN

Azerbaijan Granted $120Mn Loan From EBRD For Methanol Plant

The Azerbaijan Methanol Company (AzMeCo) has received a loan of $120mn from the European Bank for Reconstruction and Development (EBRD) for the financing of a 561,000 tons/year methanol plant in Karadagh, south of Baku, the bank announced on 1 December. The loan is the first EBRD has put forward for financing a methanol project and is the largest made by the bank to a...