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ASHGABAT (Reuters) - Turkmenistan has borrowed $700 million from the Islamic Development Bank (IDB) to finance the construction of a natural gas pipeline through Afghanistan to Pakistan and India, the country's official news agency said on Friday.
Turkmenistan, which sits on the world's fourth-largest gas reserves, last December started building its section of the pipeline, designed to ease its dependence on Russia and China, but the three other countries have yet to begin work.
Difficulties in obtaining financing for the project and concerns about security in Afghanistan, where Islamist Taliban insurgents control swathes of the territory earmarked as the pipeline route, have led to lengthy delays.
Separately, a Pakistani official involved in the project told Reuters on Friday TAPI was in the final stages of financing, and investor roadshows were due to be held next month.
(Reporting by Marat Gurt; Writing by Olzhas Auyezov. Editing by Jane Merriman)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)