Economy
Posted: 2 months ago

EIB Allocates Additional 250 million EUR for Georgia’s Infrastructure Development

Maia Tskitishvli, Vice Prime Minister of Georgia and Minister of Infrastructure, and the Deputy Infrastructure Ministers have met with Vazil Hudak, vice president of European Investment Bank and other representatives of the Bank.

As part of two agreements under Transport Communication Project of Georgia, EIB has already allocated 500 million EUR financial component to Georgia for constructing 14-km Grigoleti-Choloki highway and building Chumateleti-Khevi and Ubisa-Shorapani sections of the Rikoti Pass. 

Consultations on allocating 250 million EUR component has been already finished with EIB. 

In the water supply sector, with the EIB financial support, Kutaisi Water Raceway project is being implemented and EIB has allocated 100 million EUR financial component for this project.

A grant agreement has been signed as part of Eastern Partnership technical assistance program on allocation of a grant of about 250 000 EUR. Moreover, for the project support, one more grant agreement will be signed in the near future and EU will allocate 4 750 000 EUR grant. 

Two framework agreements have been signed for municipal infrastructure development. 200 million EUR has been allocated to fund this direction and build municipal roads, public buildings, kindergartens, tourism infrastructure, water and solid wastes infrastructure.

About 1.3 billion EUR has been allocated for improving Georgia’s infrastructure, including 750 million EUR for road infrastructure, 200 million EUR for municipal infrastructure, and 180 million EUR for water supply infrastructure.