You are here: Home » International » News » Economy
Business Standard

US pledges up to $1 bn for EU energy projects to reduce reliance on Russia

"Our aim is to galvanise private sector investment in their energy sectors", said Pompeo

AFP | PTI  |  Munich 

Mike Pompeo
US Secretary of State Mike Pompeo

Secretary of State on Saturday said Washington pledged "up to $1 billion" to boost energy projects in eastern as part of efforts to reduce reliance on Russian natural gas.

"The -- through our Development Finance Corporation, and with the support of the US Congress -- intends to provide up to $1 billion in financing to the Central and Eastern European countries of the Three Seas Initiative," Pompeo told the Munich Security Conference.

"Our aim is to galvanise private sector investment in their energy sectors.

First Published: Sat, February 15 2020. 14:58 IST
RECOMMENDED FOR YOU