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EIB to Allocate 8 Billion Euros for the Eastern Partnership Countries

The Vice-President of the European Investment Bank has addressed the Silk Road Forum of Tbilisi. Vazil Hudak talked about the importance of the Forum held in Georgia and introduced the society with the completed and future projects. According to the Vice President of the European Investment Bank, EUR 8 billion will be allocated to implement various projects for the Eastern Partnership countries:

“In 2016, we have invested a record number of Eastern Partnership countries (1.6 billion euros). Our goal is to extend credit of 8 billion euros in Georgia, Armenia, Moldova and Ukraine. “

According to Vazil Hudak, the European Union and the Eastern Partnership countries are closely cooperating in various fields. Among them are transportation safety and economic relations.

“It is symbolic that the forum is held in Georgia. Georgia is a link between East and West, this is a growing state that is modernized and transformed. We are long-term investors and invest in only stable and future countries, “said Vazil Hudak.

Vazil Hudak summed up the European Investment Bank’s ten-year work in Georgia. According to the Vice-President of the European Investment Bank, 21 projects in Georgia were financed by $ 1,6 billion:

“We encourage Georgia to expand the corridor between Europe and Asia and become an economic and business hub. We work closely with the Asian Investment Bank. The Batumi bypass road project worth of 114 million is approved in Georgia. In order to develop transport projects, the European Investment Bank has 3 large projects, worth 750 million Euro. These projects promote the improvement of Georgia’s East-West highway, “said Vazil Hudak.