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4 Jul 2016

Xavier Sol (Counter Balance) in Bretton Woods Project

World Bank to fund Southern Gas Corridor mega-pipeline in Azerbaijan & Turkey despite civil society's environmental & "controversial regimes" concerns

"World Bank set to finance criticised mega gas pipeline from Azerbaijan to Europe", 29 June 2016

Defined as “the biggest infrastructure project of our times” by the European Commission and a priority for the European Union, the Southern Gas Corridor was always going to attract the attention of the World Bank. As part of Turkey‘s Country Partnership Strategy (CPS), the Bank has announced its intention to finance the project through a double loan to Azerbaijan and Turkey...The wide range of risks and consequences associated with the construction of this megapipeline has provoked a heated debate. Concerned about the support that such a controversial project has received from public international financial institutions, civil society across Europe has mobilised to raise awareness among citizens and decision makers about the project‘s environmental and geopolitical implications and to prevent its funding, arguing that the project contradicts with the climate goals that the World Bank and the European public banks committed to...The geopolitical context surrounding the Southern Gas Corridor is just as worrisome. Neither the autocratic regime of Ilham Aliyev in Azerbaijan nor the increasingly repressive rule of Recep Tayyip Erdoğan in Turkey are ideal partners for such an enormous project.