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World Bank Approves $800M Loan for TANAP Project

The World Bank’s Board of Executive Directors today approved a $400 million loan for Turkey and a $400 million loan for Azerbaijan for the Trans-Anatolian Natural Gas Pipeline (TANAP) Project, according to WB website. The project will transport natural gas from a gas field in Azerbaijan to and across Turkey, …

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PM: BTK Railway to be Commissioned in 1Q2017

PM: BTK Railway to be Commissioned in 1Q2017

The Baku-Tbilisi-Kars (BTK) railway will be put into operation in the first quarter of 2017, said Turkish Prime Minister Binali Yildirim. Yildirim made the remarks during a meeting with his Georgian counterpart Giorgi Kvirikashvili, the TRT Haber news channel reported Dec. 20. The Turkish prime minister noted that the BTK …

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Azerbaijan Weekly Market Watch

Azerbaijan Weekly Market Watch

Galt&Taggart Publishes Report on Main Developments that Took Place in Azerbaijani Economy Last Week: 2017 budget approved by the Parliament Azerbaijan Parliament approved the 2017 budget last week. Consolidated budget revenues are set at AZN 20.0bn (+1.5% compared to the original draft budget document), while expenditures are set at AZN …

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Trump Tower in Azerbaijan Showed Conflict Risk in Strategic Area

The Trump Organization’s announcement that it’s ending licensing deals for projects in Brazil and Azerbaijan suggests it is moving to fend off wide concerns about conflicts of interest in advance of Inauguration Day. Alan Garten, the organization’s executive vice president and general counsel, said Thursday that said the moves are “housecleaning,” …

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New Phase of TANAP’s Construction Begins

TANAP

The new phase of construction of Trans Anatolian Natural Gas Pipeline (TANAP) has started in Turkey’s west, Ihlas news agency reported Dec.14. The new phase envisages construction of the pipeline’s 68 km section and it is planned to complete the work within six months. The steel pipes produced in Turkey …

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EU Delay on Visa-free Travel for Ukrainians Fuels Sense of Betrayal

ukraine-visa-free

As activists gathered on an icy Kiev square this weekend to commemorate the authorities’ bloody response to the wave of protests three years ago that eventually swept the then president from power, the mood was sombre. he country’s 2013-14 Maidan revolution was sparked by Viktor Yanukovich’s refusal, under pressure from …

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​Poverty Trap Leaves Least Developed Countries Ever Further Behind

THE LEAST DEVELOPED COUNTRIES

Global poverty is increasingly concentrated among a group of 48 countries, which are falling further behind the rest of the world in terms of economic development, according to a United Nations report released on Tuesday by UNCTAD. The Least Developed Countries Report 2016: The Path to Graduation and Beyond – …

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Azerbaijan Weekly Market Watch

Azerbaijan Weekly Market Watch

Galt&Taggart Publishes Report on Main Developments that Took Place in Azerbaijani Economy Last Week: ADB approved two funding channels for Azerbaijan amounting to US$ 1.5bn Asian Development Bank (ADB) will provide US$ 1.0bn in private and public sector assistance to expand Azerbaijan’s Shah Deniz II gas field. The assistance comprises …

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Amount of Container Trains on TCITR to Reach 1,000 by 2020

,The amount of container trains on the Trans-Caspian International Transport Route (TCITR) will reach 1,000 until 2020 according to a message posted on the website of Kazakhstan Temir Zholy JSC (Kazakhstan Railways). This agreement was reached during a working meeting of heads of railway administrations of Azerbaijan, Kazakhstan and Georgia …

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