Asia Development Bank might issue a $1.5 bln loan for the 2nd stage of Shakh-Deniz

​The Asia Development Bank might issue a $1.505 bln loan for the realization of the second stage of development of the Shakh-Deniz deposit.

The Asia Development Bank has published the investment plan of the multi-tranche financing of Shakh-Deniz-2.

The suggested investment plan will support the efforts of Azerbaijan on the project’s financing and is meant for the improvement of the fiscal position of the country by means of increase of the revenue from the gas export from Shakh-Deniz and foundation of the additional work place.

According to the bank, on June 15-24 2016 Azerbaijan will be visited by the representatives of the Asia Development Bank to collect the information on the project. The consideration of the investment plan at the Asia Development Bank is planned for July 4th, approval by the Board of Directors – August 22nd.

It was previously reported that the Asia Development Bank might issue a $450 mln loan for Shakh-Deniz-2.