27 banks to finance Nord Stream
A total of 27 banks have agreed to fund the construction of the Nord Stream pipeline with 4 billion EUR.
The lion’s share of the guarantees comes from credit agencies in Germany and Italy, Newsru.com reports with reference to Kommersant. Alone the Hermes and Sace has agreed to cover 1.9 billion EUR of the investments. Also banks based in France, the UK, Sweden, Spain, Portugal and Japan are on the list of contributors. The credit organizations are to cover 70 percent of the project. The remaining 30 percent will be covered by project partners Gazprom, E.ON, BASF, Gasunie and GdF Suez
