From: Justin Burke (JBurke@sorosny.org)
Date: Wed Feb 12 2003 - 13:10:22 EST
CASPIAN NEWS AGENCY
CNA all-inclusive newsline
/13:30 12.02.2003/ Baku-Tbilisi-Ceyhan project again threaten for
International financial institutions do not hurry to provide credits
Yerevan, February 12, 2003. (CNA). World Bank authorities have decided
to postpone the discussion of the issue about providing financial
resources for construction of the Baku-Tbilisi-Ceyhan oil pipeline. The
reason is connected with the pressure made on the Ministry of
Environment protection and natural resources of Georgia. The leader of
the "green" party of Georgia Georgiy Gachechiladze informed journalists
that the World Bank does no wish to invest in a project without being
guaranteed that the approved route of the pipeline would not be
reviewed, the PanArmenian.net reports. The decision of the WB to
postpone the discussion of the issue on providing credit to the
"Baku-Tbilisi-Ceyhan" project can be considered as a success of the
campaign started by the ecologists. The refusal of the international
financial institutions to provide credits will lead to failure of the
project which from the very beginning seemed doubtful. It is known that
from the necessary $3 billion, the $2 billion 300 million were supposed
to be attracted as credits. The negotiations with different financial
institutions are proceeding. However, by now nobody has given its
agreement to invest. Nobody wants to undertake the responsibility for
the possible catastrophic consequences of construction of the pipeline
through seismically dangerous territories.
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