The European Bank for Reconstruction and Development (EBRD) will participate in financing the construction of the Trans Adriatic Pipeline, through which gas will be supplied from Azerbaijan to Europe.
As Rambler News reported with reference to a statement made by the bank, EBRD will invest €500 million in the project implementation. This amount will be provided in a loan. The document says that The EBRD Board of Directors approved the loan for the construction of the Trans Adriatic Pipeline, which is considered a priority project of the European Union.
The Trans Adriatic gas pipeline is part of the Southern Gas Corridor project, according to which gas will be supplied from the Caspian region to European countries bypassing Russia. Socar will supply Azerbaijani gas from the Shah-Deniz field. From Azerbaijan, the blue fuel will go to Turkey, and then to Italy through Greece and Albania.
