European Investment Bank offers over €250m to Georgia
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The European Investment Bank (EIB) is offering €250 million to help improve regional connectivity and road transport efficiency in Georgia.
Georgia’s Finance Minister Dimitry Kumsishvili signed the financial agreement with the EIB today in Georgia’s Black Sea town of Batumi at the 14th Batumi International Conference – ‘Georgia's European Way’.
As part of the financing, 253 km major and secondary roads will be constructed and rehabilitated in Georgia.
Meanwhile, the EIB offered an additional €3.5 million to contribute to the development of Georgia’s energy sector.
In particular, the money will be spent on the rehabilitation of Georgia’s Vardnili and Enguri hydropower plants.
The project is the last phase of the rehabilitation of the Enguri-Vardnili hydro power cascade. The EIB has already contributed to the project with €20 million, while with today's agreement the Bank has added €3.5 million to the project that aims to ensure the safe release of the water when the upstream Enguri dam is working at full capacity.
As a result of the final phase, production capacity is predicted to increase by approximately 200GWh per year.
The European Investment Bank (EIB) and the European Investment Fund are implementing two new programmes in Georgia which have been developed jointly with the European Commission.
Georgia has today signed a €450 million financing agreement with the European Investment Bank to implement three major projects that will raise living standards and boost the global competitiveness of Georgia.
The European Investment Bank (EIB) is investing €450 million in Georgia to implement three major projects.
The European Investment Bank (EIB) is promising stronger support for Georgia by doubling the amount it invests in the country in the coming years.
Georgia’s Prime Minister Giorgi Kvirikashvili hosted today the Vice-President of the European Investment Bank (EIB), Vazil Hudak, at the Administration of the Government of Georgia.
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.
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) 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) is allocating €5,750,000 to finance road safety in Georgia, announced the Roads Department of Georgia.
The European Investment Bank Group and the Bank of Georgia have signed an agreement to supply a €60 million credit line for loans to small and medium-sized enterprises.