VolumeEUR 50 mln
Field of activityEnergy
- International Bank for Economic Co-operation has granted a loan to Bulgartransgaz EAD, which is a unified gas operator carrying out natural gas transportation and storage in Bulgaria. Funding in the amount of EUR 50 million was used to cover investment costs associated with the implementation of the most important project for the development of energy infrastructure ""Balkan Stream"". Together with IBEC, the largest international banks took part in financing: Citibank Europe, ING Bank, Unicredit Bulbank JSC. In total, the consortium of banks provided EUR 200 million. Balkan Stream is an important infrastructure project providing gas supplies across Bulgaria from the Turkish border to Serbia. The total cost of the project is EUR 1.1 billion, the length of the gas pipeline is 474 km.
International Bank for Economic Cooperation finances Balkan Stream
The International Bank for Economic Co-operation has provided a loan to Bulgartransgaz EAD, which is a combined operator performing licensed activities of natural gas transmission and storage in Bulgaria. The loan agreement was signed at the Bulgarian Embassy in Moscow in the presence of the Ambassador Extraordinary and Plenipotentiary Mr. Atanas Krastin on October 22 — the 56th anniversary of the IBEC foundation.