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European Investment Bank, Georgia Agree on Cooperation

Georgia and the EU?s long-term lending institution, the European Investment Bank (EIB), have signed an agreement paving the way for EIB investment in Georgia.

A framework agreement providing the basis for EIB?s activities in Georgia was signed by Georgian Finance Minister Lexo Alexishvili and EIB Vice-President Torsten Gersfelt in Tbilisi on June 21.

?This agreement will allow the Bank to proceed with the financing of projects of key common interest for Georgia and the European Union, in the areas of transport, energy, telecommunications, and environmental infrastructure,? the EIB said in a statement.

Owned by the EU?s 27 member states, the EIB borrowed EUR 48 billion and lent EUR 45.8 billion in 2006.

This post is also available in: ქართული (Georgian) Русский (Russian)


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