EBRD plans to provide syndicated loan to TAP project in 2018

Brussels. 24 November. REPORT.AZ/ Azerbaijan's gas projects are very important for Europe in terms of energy security and diversification of energy sources.

Francis Malige, Managing Director for Eastern Europe and the Caucasus at the European Bank for Reconstruction and Development (EBRD) told Report.

According to Malige, the EBRD-funded gas projects are of strategic significance in two aspects: "As I said earlier, it is important from the point of diversification of Europe's energy sources and energy security. Moreover, these projects are also important for diversifying the economy of Azerbaijan and reducing dependence on the oil and gas sector”.

The EBRD official said the they would finance the Trans Adriatic Pipeline (TAP) project in 2018: "As I see, there is no need to allocate additional funds for the Trans-Anatolian Pipeline (TANAP) project. But next year we can allocate funds for financing of TAP. I think decision on financing will be made in 2018. Unlike TANAP, this funding will be in syndicated form with other partners”.