Georgia and Asian Development Bank mark 10 years, sign €12m new deal
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Georgia and the Asian Development Bank (ADB) are celebrating 10 years of partnership today, marking this day with the opening of a new credit line worth €12 million.
With the €12 million, provided by ADB today, Georgia will rehabilitate Tbilisi Metro in its capital city.
The total cost of the project is €14,200,000 of which the Georgian side’s contribution will be €2,200,000,” said Finance Minister of Georgia Mamuka Bakhtadze after signing the deal with the ADB today.
This new credit line is part of a multitranche financing facility (MFF) for the Sustainable Urban Transport Investment Program for an aggregate amount not exceeding $300 million that the ADB approved for Georgia in July 2010.
Today we have signed the fifth tranche of the Sustainable Urban Transport Investment Program [that was signed between the ADB and Georgia] in order to improve urban transport facility across Georgia. This is the last tranche. I will continue the works that have been started in order to rehabilitate the Tbilisi Metro network, an important network that brings services to over 300,000 passengers a day. We have recently opened a new station, Univestity Station at Tbilisi Metro and this will complement the work throughout the network as well,” said ADB official.
In particular, tranche five consists of:
- Tbilisi Metro rehabilitation, including the replacement of power distribution cabling and the rehabilitation of the ventilation system;
- Development of a waste management plan for metro operation and maintenance; and
- Consulting services for supervision of works, financial audit, and safeguard monitoring. The subcomponents are in line with the selection criteria of the MFF.
The Asian Development Bank (ADB) is moving its forecast up and saying the Georgian economy will grow by 4.2 percent in 2017 and 4.5 percent in 2018.
Hundreds of people living in a Chiatura village in Georgia’s western Imereti region are welcoming a 36 million GEL project to benefit from the continuous, quality water supply during 24-hour per day.
The Asian Development Bank (ADB) will allocate $80 million to help improve the conditions of secondary roads in Georgia.
The Asian Development Bank (ADB) has allocated €108 million to help improve regional connectivity and road transport efficiency in Georgia, while strengthening the country’s bid to become a regional transport and logistics hub.
Georgia’s Prime Minister Giorgi Kvirikashvili has met with Werner Liepach, the new Director General of the Asian Development Bank’s Central and West Asia Department of the Asian Development today.
The Asian Development Bank will fund the second phase of work on water supply, sanitation and wastewater treatment systems at Georgia’s ski resort of Gudauri.
Georgia’s Finance Minister Mamuka Bakhtadze is at the 51st Annual Meeting of Asian Development Bank (ADB) in Manila, the capital of the Philippines.
Georgia’s Finance Minister Mamuka Bakhtadze met with the President of Asian Development Bank (ADB) Takehiko Nakao at the 51st Annual Meeting of ADB in Manila, the Philippines.
The growth of Georgia’s economy is projected to reach 4.7 percent in 2019, following a dip to 4.5 percent in 2018, on strong investment and exports, says the Asian Development Bank (ADB).
The President of Asia Development Bank (ADB) Takehiko Nakao is paying an official visit to Georgia on June 13-16. This is the first visit of the ADB President to Georgia after cooperation was launched between Georgia and the bank, and is a clear confirmation of ADB's support for Georgia, announced Georgia’s Ministry of Finance.