About Civil.ge
Eng | Geo | Rus
Last updated: 14:24 - 26 Apr.'18
RSS
Mobile
Twitter
Facebook
EIB to Allocate EUR 250 million to Georgia
Civil Georgia, Tbilisi / 13 Jul.'17 / 15:51

The European Investment Bank (EIB) will allocate a EUR 250 million loan to Georgia to upgrade the priority road infrastructure in the country, the EIB and the Georgian Finance Ministry reported on Thursday. 
 
The loan agreement was signed by the Georgian Finance Minister and First Deputy Prime Minister, Dimitri Kumsishvili, Minister for Regional Development and Infrastructure, Zurab Alavidze, and EIB Vice-President Vazil Hudák on the sideline of the 14th Batumi International Conference on July 13. 
 
“The financial and technical support that we receive from Europe on a daily basis is very important for us. All these steps should ultimately be directed towards rapid completion of infrastructure development in our country that will strengthen Georgia’s transit potential and simplify transportation inside the country,” Georgian Finance Minister Dimitri Kumsishvili said after signing the document. 
 
The EUR 250m loan is the second and last tranche of a EUR 500m framework loan for the construction and rehabilitation of approximately 253km of priority primary and secondary roads identified by Georgia’s Government for the 2017-2020 period.
 
The European Investment Bank also increased its support by EUR 3.5m to finance the completion of rehabilitation works at Vardnili and Enguri HPP cascade in Georgia.
 
Speaking at the 14th Batumi International Conference, Vice-President Hudák highlighted the ten-year successful cooperation between the EIB and Georgia, noting that the Bank has so far supported 21 projects with a total loan volume of over EUR 1.5bn in the country.
 
“Our ultimate goal is job creation, economic growth and improved living standards and the loans that we signed today go firmly in that direction,” he said.

Latest News
26 Apr.'18 14:24
Ex-PM Ivanishvili to Chair Georgian Dream Party
Prime Minister Giorgi Kvirikashvili said Ivanishvili was ‘best equipped’ to add new dynamism to the party.
26 Apr.'18 11:12
Lawmaker Proposes Criminal Liability for ‘Insult of Religious Feelings’
The parliamentary human rights committee decided to set up a working group for scrutinizing the draft law.
25 Apr.'18 17:21
New Abkhaz Government Head Appointed
Gennady Gagulia has served as the Abkhaz “prime minister” twice - in 1995-1997, and 2002-2003.
25 Apr.'18 14:43
Watchdog Improves Georgia’s Press Freedom Ranking
None of the countries of the former Soviet Union (except the Baltics) are ranked ahead of Georgia.
25 Apr.'18 13:21
Minister Gakharia Visits Lithuania, Meets Foreign, Interior Ministers
Georgian and Lithuanian officials discuss visa free regime with the European Union, police cooperation.  
24 Apr.'18 16:01
Georgia: Mixed Reactions over Armenia Protests
The ruling party lawmaker told journalists yesterday that peace and stability was “crucial” in the neighborhood.
24 Apr.'18 12:37
Court Finds ex-Defense Minister Guilty of ‘Organizing’ Torture, Sexual Abuse
The Tbilisi City Court sentenced Bacho Akhalaia to nine years in prison.
24 Apr.'18 11:39
Tskhinvali Leader Attends Yalta Forum, Meets Syrian, Italian, Serbian Delegations
The Moscow-backed Tskhinvali leader took part in the Yalta International Economic Forum on April 19-21.
23 Apr.'18 15:39
Finance Minister Visits Washington DC, Meets Representatives of Financial Institutions
Mamuka Bakhtadze left for the United States on April 19, and will continue his visit until the end of the month.
23 Apr.'18 15:14
Red Cross Identifies Remains of Abkhazia Conflict Victims
The identification process took place within the Red Cross coordination mechanism, launched in 2010.

About Civil Georgia
Civil.Ge © 2001-2018, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
78