EU and EIB offer €6.13 mln for new, safer roads in Georgia
The Technical Assistance for Georgia Transport Connectivity is a seven year programme funded by the EU. Photo: EU Delegation to Georgia.
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The European Union (EU) and the European Investment Bank (EIB) are starting a new project with a total budget of €6,136,000 to contribute to Georgia’s road infrastructure development.
The project activities are expected to start in January 2019. The Technical Assistance for Georgia Transport Connectivity (GTC) is a seven year programme funded by the EU.
In particular, this project will:
- Prepare the necessary technical studies necessary for new investments in the Georgian road network;
- Provide capacity-building and training to the staff of the Roads Department to support the implementation of Georgia's national road programme;
- Conduct feasibility and design studies necessary to eliminate accident-prone road sections.
Improved road networks are a key element in economic development, creating connections between people and allowing exchanges and trade both within and outside the country. This project will lay the groundwork for new and safer roads to be built throughout Georgia in the years to come”, said Director of Neighbourhood East, European Commission, Lawrence Meredith.
The European Investment Bank (EIB) has lent €30 million to Georgia’s TBC Bank to broaden access to financing for small and medium-sized enterprises in the country (SMEs), which represent about 90 per cent of companies active in the country.
The European Investment Bank (EIB) is offering an additional €250 million to help improve regional connectivity and road transport efficiency in Georgia. The EIB has already provided over €500 million for implementation of the ‘Georgian Transport Communication Project’.
The European Investment Bank (EIB) have signed three agreements which will make available up to 280 million GEL (about $103.24m/€87.35m*) to Georgian small and medium enterprises (SMEs).
The European Investment Bank (EIB) and the European Investment Fund (EIF) – jointly the EIB Group – will allocate €100 million in loands to small and medium-sized enterprises (SMEs) in Georgia, Moldova and Ukraine.
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The European Commission has disbursed €15 million in loans to help Georgia cover part of its financing needs and support the implementation of economic reforms.
The European Union has transferred 110 million GEL(about $ 41.28m/€36.8m) to the government of Georgia in acknowledgement of government reforms conducted in 2017 and 2018.
The European Commission together with the World Bank have developed a new Indicative trans-European Transport Network (TEN-T) Investment Action Plan that identifies priority projects in Eastern Partnership countries, including in Georgia.
The European Investment Bank (EIB) and the government of Georgia have signed a deal on the allocation of €250 million loan for “vitally important” infrastructure projects in Georgia, the government of Georgia says.
Vice President of the European Investment Bank (EIB) Vazil Hudak said that Georgia is a key partner of EIB in the Eastern Partnership and “we will continue supporting East-West connectivity, along with significant projects implemented in the energy sector of the country”.
The European Investment Bank (EIB) will finance public sector development projects over the next five years in Georgia.
Mziuri Park, which was damaged during the deadly flash flood of June 13, 2015 in Tbilisi, reopened yesterday. The extensively redeveloped park now features bicycle roads, an artificial lake, a skateboard park and numerous children's playgrounds and is set to be one of the top recreation zones in the city.