Trans-Adriatic Pipeline, EIB financing for €1.5 bn
Another €500 million are pending from EBRD
The European Investment Bank (EIB) board approved on Tuesday a €1.5 bn financing for the construction of the Trans-Adriatic Pipeline (TAP). The news comes from the EIB itself, that also underlines that the approval came the day after a meeting with representatives for 90 civil society organisations.
A note explains that financing is supported by the Juncker Plan (Investment Plan for Europe) and recalls that the TAP project is part of the Southern Gas Corridor initiative, which has been identified as a Project of Common Interest by the European Commission, the European Parliament and the Council.
The TAP project, the cost of which will reach around €4.5 bn, received funds for €14 million from the Connecting Europe Facility programme and is now pending another €500 million investment from the European Bank for Reconstruction and Development (EBRD).
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07 February 2018 - 15:31 CET