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Germany Allocates 125 million EUR Credit to Georgia for Electricity Network Development

Minister of Finance Dimitri Kumsishvili, German Ambassador to Georgia  Haike Faich, Georgian State Electrosystem (GSE) director general Sulkhan Zumburidze and Klaus Viegel, head of South Caucasus regional office of Reconstruction Credit Institute  of Germany (KfW), signed an agreement calling for expansion of electricity transmission network of Georgia.

For the project implementation KfW has allocated 125 million EUR credit resource. The program calls for developing transmission line infrastructure in Guria Region and implementing the first phase of the so-called North Chain, which calls for integration of hydro power plants of North and West into a joint power network.

Amid growing consumption, it is necessary to develop a new infrastructure to integrate it into Georgia’s transmission network, Sulkhan Zumburidze said.