Last week The Asian Development Bank (ADB) signed a $14.27 million loan agreement with the Government of Georgia to upgrade and improve the Tbilisi metro, which currently benefits over 300,000 commuters daily.
“The project will help meet the growing demand for reliable, safe, and efficient sustainable transport—a high priority of the government,” said Yesim Elhan-Kayalar, ADB Country Director for Georgia.
The project is the fifth and last installment of the $300 million financing facility for the Sustainable Urban Transport Investment Program, approved by the Government of Georgia and ADB in August 2010. The project has extended, rehabilitated, and improved urban transport infrastructure in the country, while improving the ability of local agencies to manage further improvements in the transport system. The project also assisted agencies in establishing skilled and experienced units to oversee the management and the implementation of the program.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members—48 from the region. In 2016, ADB assistance totaled $31.7 billion, including $14 billion in cofinancing.