BRUSSELS, Oct. 29 (UPI) -- A $138 million loan for the Slovenian natural gas transit system will support a move toward a clean-energy future, a European bank official said.
The European Investment Bank announced it would distribute $138 million to Slovenia during the next two years to help the country upgrade its gas transmission infrastructure.
The EIB said in a statement that 146 miles of new natural gas pipelines would help the country meet increasing gas demand.
A separate $69 million loan would help the country develop its automotive sector to produce the next generation of energy-efficient cars.
"Both loans will support Slovenia's efforts to upgrade the quality of the environment in the country by increasing the availability of cleaner energy resources such as gas and reducing emissions by using the new generation of more energy-efficient power trains," said Anton Rop, the EIB vice president for lending, in a statement.
Slovenia joined representatives from Serbia, Croatia, Hungary, Italy, Bulgaria and Greece in plans to build the Russian-backed South Stream gas pipeline for Europe.
South Stream will pass under the Black Sea, carrying 2.2 trillion cubic feet of natural gas per year through Bulgaria to Europe.
