​EBRD to attract 1.5 billion EUR for TAP project

Baku. 13 May. REPORT.AZ/ The European Bank for Reconstruction and Development (EBRD) is considering financing of up to 1.5 billion euros (1 billion pounds) for the Trans-Adriatic gas pipeline in a record loan. 

Report informs, Managing Director of Energy Riccardo Puliti to Reuters.

"We are considering up to 500 million euros of our own money for TAP plus we will try to arrange with other banks up to 1 billion euros in a syndicated loan," Riccardo Puliti, managing director of energy at the EBRD said.

Puliti said the loan in total would be the largest the EBRD has ever made. TAP is estimated to cost around 6 billion euros.