The European Investment Bank will provide a EUR 25 million loan to Serbia for the construction of the 109 km Nis-Dimitrovgrad pipeline linking to Bulgaria’s gas distribution system.
The loan complements a EUR 49.5 million grant from the EU Instrument for Pre-accession Assistance (IPA) for the project and will enable the diversification of Serbia’s energy supply and strengthen energy networks in Southeastern Europe (SEE), according to EIB statement.
“As part of the EIB energy lending policy agreed in 2019, we committed to supporting a few select gas projects already under appraisal, before moving to renewables-only lending from the end of 2021. That is why the EIB is pleased to provide EUR 25 million to back the construction of the Serbian side of this interconnector,” said Lilyana Pavlova, the EIB Vice-President responsible for lending operations in Serbia.
