ЕБВР, ЕИБ и МФК започват оценяването на газопровода „Набуко”, Bourgas, Burgas
Brussels, September 6, 2010.
Today
signed a mandate letter from the European Bank for Reconstruction and
Development (EBRD), European Investment Bank (EIB), International
Finance Corporation (IFC) - member of the World Bank, the shareholders
of the Nabucco pipeline and Gus Payplayn International.
Signing
the letter of the mandate of the three international financial
institutions marks the beginning of a process that will assess the
Nabucco project. This is a necessary step that will potentially provide funding of up to 4 billion euros. The Nabucco project is leading to meet future gas demand in Europe and diversify supplies to European countries.
Potential
financing package consists of up to 2 billion euros from the European
Investment Bank, to 1.2 billion euros from the EBRD (up to 600 million
euros on behalf of the EBRD and to 600 million euros syndicated to
commercial banks) and to about 800 million euros from IFC (400 million on behalf of the MPA and to 400 million euros to commercial banks).
Mandatory
letter presents the conditions under which the three international
financial institutions will evaluate the project and indicates possible
level of funding. The letter defines the work to be done before making a final decision.
The
participation of three financial institutions support from Europe and
the world, also ensure full financing of the Nabucco project. Early
involvement of international financial institutions ensure that Nabucco
will implement the highest standards in risk assessment of the impact
on social and environmental. Project evaluation will be based on assessment of the commercial, social and environmental aspects.
Project Nabucco pipeline belongs to one of the most important objectives of the European Union. The aim is to achieve security through diversification of routes and gas supplies. Through
new routes will deliver additional volumes of gas from different
sources for the Member States of the European Union and its neighbors. The Nabucco project provides a strategic decision by both gas transportation from the Caspian region and the Middle East.
After
the final evaluation stage, the funding will be approved by the
governing bodies of each international financial institutions. It
is expected that the export credit agencies and international banks to
start their assessments after the international financial institutions. Commitments from potential lenders are expected to be made in 2011.
Notes to editors
Nabucco
Nabucco gas is the new bridge from Asia to Europe. He will contact the richest gas regions in the world - the Caspian Sea and Middle East to European consumer markets. The
pipeline will connect the eastern border of Turkey to Baumgarten in
Austria - one of the most important distribution centers in Central
Europe - in Bulgaria, Romania and Hungary.
IFI
International
financial institutions: the collective name for all financial
institutions operating at international level, ranging from development
banks such as IFC, a member of the World Bank Group and the European
Bank for Reconstruction and Development (EBRD), the European Investment
Bank (EIB ) and monetary institutions such as the International Monetary Fund.
EBRD
The
EBRD, owned by 61 countries and two intergovernmental institutions,
promote a market economy and democracy in Central Europe to Central
Asia. www.ebrd.com
EIB
European Investment Bank was established by the Treaty of Rome in 1958 as a long-term lending bank of the European Union. The
task of the Bank is to contribute to the integration, balanced
development and economic and social cohesion of EU Member States. EIB
has considerable amounts of funds on the capital markets, as loans are
granted on favorable terms for projects that support further EU
objectives. EIB continuously adapts its activity in accordance with the development of EU policy.
Besides
supporting projects in the Member States, major credit priorities
include financing investments in future Member States of the EU and
partner countries. EIB operates without profit maximization on the basis of funds and gives a price close to the borrowing. 3A
stable credit rating of the bank due to the solid support of
shareholders, a strong capital base, conservative risk management and
stable funding policy. More information: www.eib.org
MPA
International
Finance Corporation (IFC), member of the World Bank Group, is a global
institution, focusing on private sector development in developing
countries. IFC creates opportunities for
people to escape poverty and improve their lives by providing funding
support for companies to hire more people and provide basic services, by
attracting capital from third parties, and providing consultancy
services for sustainable development. The new IFC investments rose to a record 18 billion dollars in fiscal 2010. More information: www.ifc.org.