ECONOMY
27 AGREEMENTS ON ALLOCATION CREDITS FOR BTC MEP CONSTRUCTION TO BE SIGNED
On February 3, at the signing ceremony of the agreement between BTC Co (operator for construction and exploitation of Baku-Tbilisi-Ceyhan pipeline) and international financial institutes on allocation of credits for construction of BTC pipeline, one package of 27 agreements is planned to sign will all creditors, BP-Azerbaijan company reports.
It is known that the EBRD and IFC will allocate on each 250 mln dollars, 125 mln of which will be from own funds, the rest (125 mln) – as syndicated credits.
The credit is allocated for 8 years under 4,5 % of annual. Besides, syndicate of 15 international commercial banks organized by ABN AMRO, Citigroup, Mizuho and Societe Generale will allocate 1,2 bln dollars. Overall, 2,95 bln dollars will be necessary for construction of Baku-Tbilisi-Ceyhan pipeline.
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