The European Investment Bank has approved a €932m financing package for the Trans-Anatolian Pipeline (TANAP), a 1,850 km gas pipeline interconnection between the Shah Deniz 2 gas field and Europe through Turkey. The project, a major part of the Southern Gas Corridor aimed at improving gas supply security in Europe, has already secured funds from the European Bank for Reconstruction and Development (EBRD), the World Bank and Asian Infrastructure and Investment Bank (AIIB).
This financing package is part of a broader €8bn investment in education, energy, telecom and local businesses. The EIB will also finance renewable energy projects (74 MW) in Austria and Greece and solar PV plants in Mexico. The Bank will invest €375m to support greenfield renewable energy schemes, transport, telecom and venture capital activity and €100m to support new construction of near zero energy (NZE) buildings in Germany.