IFIs can provide up to €1.5bn to finance Nabucco

(Trend, Vienna, 11 December 2009) The EBRD, European Investment Bank, IFC and other financial institutions can provide €1 to €1.5 billion for financing the Nabucco pipeline project designed to deliver gas from the Caspian region and the Middle East to the EU, said member of the EBRD Board of Directors Kalin Mitrev at the "Nabucco & South Stream" Forum in Vienna. Mitrev said that from €2 to €3 billion in financing for the project accounts for export credit agencies and commercial banks. He said that today the cost of the project is €8 billion, but in future it may increase.