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EBRD meets demonstrators on Baku-Tbilisi-Ceyhan pipeline proposal
EBRD officials today received a letter from demonstrators protesting the planned Baku-Tbilisi-Ceyhan pipeline from the Caspian Sea to Turkey's Mediterranean coast.
The EBRD is evaluating whether to finance the project and is in the midst of a thorough examination that involves dialogue with local communities as well as financial, legal, economic and environmental issues.
The sponsor's Environmental and Social Impact Assessment was made public in May 2002 and additional information will be added later this spring. The EBRD will open a 120-day public comment period on this document when people can raise additional comments and concerns. The EBRD will continue its dialogue with communities in the host countries as part of its due diligence process.
The Bank's decision will depend on "whether the pipeline is safe, fair and brings long-term benefits to the people of the region," according to Director of Energy Peter Reiniger, who recently returned from an extensive visit through Georgia and Azerbaijan.
Before financing any project, the EBRD determines whether its investment would have a positive impact on the host country and accelerate transition to a full market economy.
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