U.S. DFC Fund Set to Join Israel-Cyprus-Greece Energy Corridor

U.S. DFC Fund Set to Join Israel-Cyprus-Greece Energy Corridor

Information Suggests That These Discussions Are Well Underway, Requiring More Work, but the American Interest Is Strong

The U.S. International Development Finance Corporation (DFC) is in advanced discussions to enter the shareholder capital of the Greece-Cyprus-Israel corridor. 

This news was revealed by the Greek Deputy Minister of Energy, Ms. Alexandra Sdoukou, during her visit to Washington. The involvement of the DFC in this electric corridor, spanning Europe to Asia, is seen as a significant geopolitical value-addition.

Information suggests that these discussions are well underway, requiring more work, but the American interest is strong. This could open many new doors, such as financing part of the infrastructure, worth a total of 1.9 billion euros.

This development certainly aids the project's realization, which is becoming more mature and has approved funding from the EU. The Republic of Cyprus recently announced its entry into the project's share capital, a move also being discussed by two state funds in the region, Israel's Aluma and Abu Dhabi's TAQA.

Subtracting the secured EU funds of 657 million euros and the 100 million euros from the Cypriot participation, 1.1 billion euros remain. Although the extent of bank financing has not yet been discussed in depth, the potential entry of the U.S. state organization would contribute to broader financial support.

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