BAKU, Azerbaijan, June 9
By Leman Zeynalova - Trend:
The European Investment Bank (EIB) has provided a long maturity for the loan to finance the Serbian section of the Niš-Dimitrovgrad gas pipeline (Serbia-Bulgaria interconnector), which will enable Serbia to get access to Azerbaijani gas via the Southern Gas Corridor, EIB told Trend.
“The EIB loan supports the construction of the Serbian section of the gas interconnection between Bulgaria and Serbia, a pipeline connecting the natural gas transmission systems of the two countries. The Project consists of the construction of a 109 km-long underground gas transmission pipeline with the associated infrastructure above ground. It has been signed in May 2021 in Serbia, combined with European Union’s IPA fund for Serbia amounting to €49.6 million. The funds will help diversify energy supply in Serbia and increase energy security. The project will enable further integration of Serbia into the European energy market in accordance with the EU Security of Supply Directive.
The loan will be allocated in traches, according to the contract and implementation of the project phases. For this particular loan, the EIB provided a long maturity, which is often not achievable on commercial markets today. The Bank also provided technical assistance in project development phase. On top of that, EIB makes sure the project is compliant with European environmental and social standards,” said the Bank.
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