Asian Development Bank offers over €255 mln for Georgia’s East-West Highway
This money will go towards the construction of the four-lane, 12km long Khevi-Ubisa section of the highway. Photo: Finance Ministry of Georgia.
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The Asian Development Bank (ADB) is offering €255 million to help Georgia develop its major transport artery East-West Highway.
This money will go towards the construction of the four-lane, 12km long Khevi-Ubisa section of the highway, announced the Finance Ministry of Georgia.
This section of the highway is considered one of the most difficult sections of the Rikoti-Zestaponi motorway. Due to complex geologic conditions, it is planned to build 35 bridges (8.3 km of total length) and 20 tunnels (9.4 km of total length)”, read the press release published by the Finance Ministry.
The project is due to be completed in June 2024.
To note, this summer Japan also allocated about $343 million to build a 14km long Shorapani-Argveti section of the East-West Highway.
Japan will allocate about $343 million to help Georgia develop its major transport artery East-West Highway.
Georgia continues to improve regional connectivity and road transport efficiency by opening a new section of its major transport artery East-West Highway.
The World Bank is continuing to help Georgia improve its main transport artery, the East-West Highway, by offering €16.9 million.
Georgia is continuing to upgrade and modernise its main transport arteries in a bid to ensure roads meet international standards.
The Asian Development Bank (ADB) is providing a $22.3 million loan and $500,000 in a technical assistance grant to Georgia’s Credo Bank to launch new products including home improvement and mortgage loans to lower income households in rural areas and on the outskirts of Georgia’s capital, Tbilisi.
Georgia is developing stably and it can be an example for many Asian countries, stated President of the Asian Development Bank (ADB) Takehiko Nakao at the press conference held on the sidelines of the 52rd ADB Annual Meeting in Fiji.
The World Bank has announced the nine-month debarment of the China Railway Construction Corporation (CRCC) and its wholly-owned subsidiaries, China Railway 23rd Bureau Group (CR23) and CRCC International, in connection with misconduct under the East-West Highway Corridor Improvement Project in Georgia, however the companies will continue construction work on the East-West Highway.