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EBRD posts environmental/social assessment of BTC pipeline
The EBRD today published the Environmental and Social Impact Assessment and
related documentation of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline from the
Caspian Sea in Azerbaijan, through Georgia to a terminal at Ceyhan on the
Mediterranean coast of Turkey.
Summaries
of the assessment and full ESIA documentation.
The ESIA
documentation package has been prepared by the sponsor to provide the public
with the full detail of the project. Its posting indicates that the EBRD deems
the project financially, economically, socially and environmentally
appropriate to be considered for Bank financing.
BTC, whose operator and lead sponsor is BP plc, is seeking a $300 million loan
from the EBRD as part of the overall $3.6 billion project cost. The ESIA
documentation package is part of the Bank’s consideration of the project.
Today’s publication of the assessment commences a 120-day disclosure period,
during which the Bank will seek comment from the public. The EBRD, along with
the International Finance Corporation which is also considering financing the
project, will hold public meetings in Azerbaijan, Georgia and Turkey.
After the disclosure period and full consultation, the final decision on
whether to finance the project will be made by the EBRD Board of Directors,
probably in the fourth quarter of 2003.
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