The arrival of Caspian gas was supported by the European Development Bank, the protectors have criticized it – euractiv.sk

The European Bank for Reconstruction and Development cut a half-billion dollar loan for the Transnistrian pipeline. According to Bankwatch, the team violated its own principles

The European Bank for Reconstruction and Development (EBRD) approved a loan on Wednesday, July 4 for the construction of the Trans-Adriatic Gas Pipeline (APT) of Asia central to Europe. Project costs are estimated at 4.5 billion euros

The EBRD's decision criticized the Bankwatch network of non-governmental NGOs. According to the bank, it violated its own social and environmental principles

The pipeline to diversify resources

The EBRD said the bank's board had approved a direct credit for the construction of a gas pipeline 500 million euros. Earlier this year, a EUR 1.5 billion loan from the European Investment Bank was approved for this project.

TAP represents the last part of the project known as "a southern gas supply corridor to transport natural gas from the Central Asia to the south-east and west of Europe.This project is part of those aimed at reducing the European Union's dependence on the EU. supply of Russian gas

The first deliveries of the Shah Deniz II from Azerbaijan to Italy are expected in 2020, the pipelines transported 10 billion cubic meters a year.

Bankwatch: You violate your own rules

The CEE Bankwatch Environmental NGO Group strongly criticized the EBRD's decision to finance TAP, calling it "unfortunate." Bankwatch argues that the Bank has adapted its own environmental rules [19659003] The protectors refer to two reports to which the EBRD has access. The first notes that the project violates the Principles of Ecuador, a set of minimum standards for responsible investment and environmental and social risk management in the project finance sector.

The second quoted report was prepared by the TAP consortium itself. According to Bankwatch, it says "a fundamental discontinuity" between the construction of the project and certain aspects of the EBRD's environmental and social policy. The protectors recall the construction of the pipeline in Italy