VOL. XLVI

No 46

17-November-2003

CASPIAN

EBRD Approves $310Mn In Financing For BTC Pipeline

Following on the heels of the World Banks International Financial Corporation (IFC), the European Bank for Reconstruction and Development (EBRD) announced on 11 November that it had approved financial assistance worth $310mn for the Baku-Tbilisi-Ceyhan (BTC) crude pipeline and Phase 1 development for the offshore Azeri-Chirag-Guneshli (ACG) oilfields. A statement from EBRD said the board of directors had...