EBRD Pushes on With Azerbaijan Gas Loan After Transparency Rift
- Oil-wealth watchdog’s move ‘unfortunate,’ EBRD president says
- Azerbaijan’s stalled reform drive needs rejuvenation
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The European Bank for Reconstruction and Development is pushing ahead with plans to lend $500 million to Azerbaijan’s Southern Gas Corridor project after the nation was suspended from an international oil-wealth transparency watchdog.
The development bank is “progressing” its financing to the $40 billion pipeline project with a final board decision expected by the end of the year, Suma Chakrabarti, the EBRD’s president, said in an interview in London.