ADB soon to approve $1B loan for Shah Deniz

28 November 2024

ADB soon to approve $1B loan for Shah Deniz project

22:44 15 November 2016 Read: 926

ADB soon to approve $1B loan for Shah Deniz project

The Asian Development Bank will soon approve a $1 billion loan for the development of the second phase of Azerbaijan’s Shah Deniz gas and condensate field, ADB Vice President Wencai Zhang said.

The project is now being considered by the ADB’s Board of Directors, Zhang said at a press conference in Baku Nov. 15.

“We have conducted a detailed research in determining the amount of loan. We hope the Board will approve the loan in late November – early December,” he added.

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