The Board of Directors of the European Bank for Reconstruction and Development has approved a loan of 500 million euros for the Trans Adriatic (TAP) gas pipeline project, which envisages transportation of gas from Azerbaijan to the EU countries.
EBRD Director for Caucasus region, Bruno Balvanera said earlier this year that the Bank will allocate loans worth up to 1.2 billion euros for the Trans-Adriatic (TAP) gas pipeline in 2018. He said that the expected amount will be in the range of up to 500 million euros in a direct loans and up to 700 million euros in a syndicated loans, subject to final internal approvals. It is expected that these loans will be approved in mid-2018.
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Tags: EBRD, financial, gas, gas pipeline, loan, Region, TAP