EU banks throw their weight behind Nabucco pipeline

The EU's Nabucco gas pipeline received a boost on Monday as the European Investment Bank, the European Bank for Reconstruction and Development and the World Bank made a first written commitment that may lend the project up to €4 billion, half of its total cost.

"International financing institutions are very conservative in their assessments, so if they indicate they are ready to commit funding, they usually end up doing it," Thomas Barrett from the EIB said during a joint press briefing...