Bank Of Baku

Nabucco removed from EU energy project list

Nabucco removed from EU energy project list
# 17 March 2009 10:46 (UTC +04:00)
EU officials confirmed yesterday that the pipeline, once considered a flagship EU venture, had disappeared from the list of energy projects to be financed under the plan.
An initial draft earmarked 250 million euro for the establishment of a risk-sharing facility for Nabucco, intended to help secure loans from banks at better conditions than those offered on the market. A second version of the plan cut this amount to 200 million. But the latest version now appears to have weakened Nabucco even more, diplomats admitted.


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