July 4, 2018 / 11:48 AM / 4 months ago

REFILE-EBRD approves 500 mln euro loan for Trans-Adriatic Pipeline gas project

(Refiles to remove Ukraine from the first bullet point)

LONDON, July 4 (Reuters) -

* The European Bank for Reconstruction and Development (EBRD)’s board of directors has approved a loan of up to 500 million euros ($582 million) for the Trans-Adriatic Pipeline (TAP) gas project at a meeting on Wednesday.

* The 4.5 billion euro TAP project is the final leg of the $40 billion Southern Gas Corridor to transport gas from central Asia to western Europe by 2020.

* The European Investment Bank’s board earlier this year approved TAP’s eligibility for a 1.5 billion euro loan, and further contributions from the export credit agencies of France, Germany and Italy are under consideration, the EBRD said in a statement. ($1 = 0.8594 euros) (Reporting by Nina Chestney, editing by Louise Heavens)

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