EIB approves €1.5B loan for TAP

EIB approves €1.5B loan for TAP
# 07 February 2018 07:29 (UTC +04:00)

The European Investment Bank on Tuesday approved a 1.5 billion euro loan for the Trans-Adriatic Pipeline (TAP), part of a $40 billion project to bring new gas supplies to Europe, Reuters reported.

 

EIB Vice President Andrew McDowell told Reuters the TAP project would help to offset declining European production, provide a diversified source of gas and displace coal-fired power generation in central and south eastern Europe.

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THE OPERATION IS BEING PERFORMED