Europe's two largest banks may allocate 3.5 bln EUR for TAP

Europe's two largest banks may allocate 3.5 bln EUR for TAP EIB states allocation of around 2 bln EUR
Finance
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March 7, 2017 14:45
Europe's two largest banks may allocate 3.5 bln EUR for TAP

Baku. 7 March. REPORT.AZ/ Following the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) also stated its interest in the Trans-Adriatic Pipeline (TAP) project.

Report informs, Director of the EIB Central and South Eastern Europe Department Flavia Palanza said at the meeting with Director General of "Southern Gas Corridor" CJSC 

F. Palanza said that EIB plans to finance the TAP and Trans-Anatolian Pipeline (TANAP) projects: "We think that these projects are of importance and final decision will create conditions for financing".

However, EIB official didn't give information on specific amount, she said that the figure will be around 2 bln EUR.

Notably, in mid-2016, the EBRD Managing Director for Energy Riccardo Puliti said that the bank tries to increase the funds to be allocated for the project. It was noted that the amount will make 1.5 bln EUR, which 1 bln EUR will be allocated by the financial institutions, another part directly by the EBRD.  

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