About Civil.ge
Eng | Geo | Rus
Last updated: 16:16 - 20 Jan.'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
20 Jan.'18 16:16
HRW Report on Georgia
The rights group says that constitutional reform approved without “broader political consensus.”
19 Jan.'18 16:16
Georgian Parliamentary Chairman Visits Ukraine
Irakli Kobakhidze met with his Ukrainian counterpart and Prime Minister.
18 Jan.'18 16:14
Media Organizations Urge Parliament to Uphold Presidential Objections to Broadcasting Law
51 media organizations seek meeting with the Parliamentary Chairman and the majority group.
18 Jan.'18 14:22
Political Ratings in NDI-Commissioned Poll
GD enjoys strongest public support in the poll carried out after the October municipal elections.
17 Jan.'18 18:56
Three Pankisi Gorge Residents Questioned
Georgian State Security Service questioned three individuals for alleged ties with terrorism suspects.
17 Jan.'18 16:16
NATO Military Committee Holds Session on Georgia
Georgia’s progress on its defense reform and Substantial NATO-Georgia Package were discussed.
17 Jan.'18 12:41
Georgian, Latvian Parliaments Sign Strategic Partnership Memorandum
Georgian Parliament Speaker held talks with his Latvian counterpart, Foreign and Economy Ministers.
16 Jan.'18 17:53
CSOs Urge Parliament to Uphold Presidential Objections to Broadcasting Law
A group of thirty-six civil society organizations released a statement on the controversial GPB-related bill.
16 Jan.'18 16:28
The Weekly Tripwire - Issue 22
Civil.ge’s news digest covering developments in Abkhazia and Tskhinvali Region/South Ossetia.
16 Jan.'18 12:59
NDI-Commissioned Public Opinion Survey
Support for EU membership 72%, for NATO membership 64%.

About Civil Georgia
Civil.Ge © 2001-2018, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
6