On Thursday Ilham Aliyev discussed issues of financing the TANAP project with Vice-President World Bank's Europe and Central Asia Cyril Muller. Aliyev highly appreciated the financial support of the World Bank for the implementation of the "Southern Gas Corridor", noting that TANAP will be completed on time.
* TANAP gas pipeline and its extension to Europe - the TAP pipeline. The main objective of the project is to increase the security of gas supplies to Europe, reducing the share of Russia as a gas supplier. TANAP is estimated at $10-11 billion. Part of the funds allocated the World Bank. It is planned to begin the first deliveries in 2018 to Turkey, and then in 2019 - to Europe. In the first stage the throughput capacity of a new pipeline is estimated at about 10 billion cubic meters per year, with the possibility of further expansion up to 20 billion cubic meters a year.-02D-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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