About Civil.ge
Eng | Geo | Rus
Last updated: 17:15 - 24 Jul.'17
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
24 Jul.'17 17:15
Georgian, Israeli PMs Meet, Discuss Cooperation
Prime Minister Giorgi Kvirikashvili is on a two-day official visit to Israel.
24 Jul.'17 14:23
European Georgia Rallies against ‘Russian Fascism’ in Georgia
The March of the Georgians movement activists failed to thwart the rally.
21 Jul.'17 22:00
NDI’s Pre-Election Assessment: Two Divergent, Parallel Georgias
National Democratic Institute’s delegation assessed the pre-election environment ahead of municipal polls.
21 Jul.'17 17:41
President Trump Names New European-Eurasian Affairs Point Man
Wess Mitchell will lead the State Department’s Bureau of European and Eurasian Affairs.
21 Jul.'17 16:51
President Vetoes Changes to Self-Government, Election Codes
MPs will deliberate on President Margvelashvili’s objections until late July.
21 Jul.'17 12:43
Abkhazia, S.Ossetia in UK Foreign Office’s Human Rights Report
The Foreign and Commonwealth Office released its annual Human Rights Report for 2016.
20 Jul.'17 23:33
Prosecutor’s Office to Probe into Azerbaijani Journalist’s Case
Heads of Border Police and Counterintelligence Department will leave their posts pending investigation. 
20 Jul.'17 18:25
Updated: Georgia in U.S. State Department Terrorism Report
The document assesses the status of terrorism-related issues in Georgia in 2016.
20 Jul.'17 14:58
Ukraine, Georgia Pledge Strategic Partnership
Petro Poroshenko concluded his three-day state visit to Georgia.
19 Jul.'17 20:22
Tbilisi Mayoral Candidates and Their Campaigns
The capital of Georgia, which is home to one third of the country’s electorate, will elect its Mayor in October.

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
73