Companies & Finance

EBRD approves €500 mln loan for TAP

The EBRD has approved a loan of up to €500 million for the construction of TAP.
By Staff reporter 5 July 2018 0 31618

The European Bank for Reconstruction and Development (EBRD) has approved a loan of up to €500 million ($585 million) for the construction of the Trans-Adriatic Pipeline (TAP).

The project is expected to cost a total of €4.5 billion, the EBRD said in a note. TAP is 75% complete.