EU Parliament approves spending plan

Some €200 million will go toward the so-called Nabucco pipeline project, which would import gas from the Caspian region and bypass Russia.

By
May 7, 2009 07:54

The European Parliament has approved the use of €5 billion of unspent EU budget funds to boost green energy and Internet links across the EU. The endorsement on Wednesday means the EU can now start spending the money, which comes from unused EU farm subsidies, on a list of projects already approved by EU leaders at their March summit. The spending is meant to create jobs and stimulate economic growth across the 27-nation bloc. Some €200 million will go toward the so-called Nabucco pipeline project, which would import gas from the Caspian region and bypass Russia. Other projects include funding broadband connections in rural areas, building offshore wind-energy parks and funding plans to bury climate-damaging carbon from coal plants.


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