EBRD criticized for 1.5 billion EUR loan to TAP construction
11/12/2017 17:26
Opposition demonstrators clash with the police in the protest in front of Tirana municipality, foreign embassies condemn acts of violence 19/04 16:00
The European Bank for Reconstruction and Development, which is expected to support the Trans Adriatic Pipeline with one of the biggest loans ever (1.5 billion USD), has been criticized by environmentalists.
The Bank has privately appealed Energy and Climate leaders in the EU to approve the loan, since the supporters of TAP need urgent financial means to continue as they enter the intensive construction phase.
But opponents of the plan say that approving the loan on the second anniversary of the Paris climate agreement would be an offense to Europe’s efforts for reducing carbon emissions.
TAP is the biggest gas corridor in Southern Europe, made of a series of pipelines which transport gas from the Caspian Sea to Europe.
Brussels supported the project one decade ago, as a way to reduce their dependence from Russia, the biggest gas supply in the EU. The Guardian says that hundreds of kilometers were prepared in Greece and Albania, and 2000 olive trees were moved in Italy to allow construction.
60% of the project is done, and there is hope that it will be final by 2020.
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