Backers of the Anglo-French Channel Tunnel project...

Backers of the Anglo-French Channel Tunnel project completed their latest fund-raising move by signing an accord for a $1.66-billion loan from the European Investment Bank. “Things are looking very good. I don’t know why anyone ever doubted (that the project would go ahead),” said Alastair Morton, co-chairman of the Anglo-French Eurotunnel consortium, after signing the accord at the Luxembourg-based EIB. He said Eurotunnel, which plans to link Britain with continental Europe, is now confident of success in a $1.24-billion share issue due in November, the final financial hurdle faced by the group. The tunnel is expected to cost $10 billion.