Background

Fostering connectivity by sustainable energy finance

  • Bulgaria
  • Bulgartransgaz EAD
  • 2019
  • EUR 50 mln
  • Energy
  • 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.
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