Europe development banks plan £5.5bn backing for gas project ‘with mafia links’
by Arthur Neslen in Brussels from on (#25F5M)
A pipeline to bring gas to Europe from central Asia has attracted companies with historic connections to cartels and the mafia, says Bankwatch report
Europe's development banks are proposing some of their biggest investments - currently more than $6.8bn (5.5bn) - for a gas pipeline being built by several firms with historic links to cartels, corruption and the mafia, according to a new report (pdf).
The 3,500km "southern gas corridor" project is seen as an energy security safeguard by EU leaders, and should begin ferrying gas to Europe from Azerbaijan by 2020.
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