EBRD invests €2.2 million in new Kobuleti Water Project

Georgia and the EBRD signed an agreement yesterday to implement the new Kobuleti Water Project. Photo by press office of Georgia's Ministry of Finance.
Agenda.ge, 21 Jan 2016 - 13:21, Tbilisi,Georgia

The European Bank for Reconstruction and Development (EBRD) is offering €2.2 million to modernise the sewage systems in Georgia’s Black Sea town of Kobuleti.

Georgia’s Finance Minister Nodar Khaduri and EBRD Director for the Caucasus, Moldova and Belarus Bruno Balvanera signed an agreement yesterday to implement the Kobuleti Water Project.

The project outlined the construction of a wastewater treatment plant in Kobuleti. This involved a sovereign loan of €1.5 million to Georgia’s Finance Ministry, which would be on-lent to the Kobuleti Water Company.

The Kobuleti Water Company was the only provider of water supply in Kobuleti city.

Meanwhile the Government of the Netherlands allocated €1.814 million to design Kobuleti’s new wastewater treatment plant. The money will also be used to purchase and install the necessary equipment for the plant.