European bank offers €250m to improve road infrastructure in Georgia
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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’.
At the first stage of the project, the construction of Grigoleti-Choloki 14km road section is planned. The next stage of the project includes the construction-rehabilitation of different international and secondary roads in Georgia.
As Georgia’s Infrastructure Ministry announced, improved road infrastructure would reduce time required for travel and transportation, improve road safety, develop tourism and international traffic.
The EIB is the EU’s bank, which provides finance and consulting for projects supporting innovation, small and medium-sized businesses (SME), infrastructure and climate action.
Last year the EIB made available 280 million GEL (about $114.75m/€93.08m*) for Georgian SMEs.
*Currency conversions reflect National Bank of Georgia values as of today.
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.
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) is offering €250 million to help improve regional connectivity and road transport efficiency in Georgia.
Travelling to Georgia’s Black Sea towns is now easier thanks to a new bypass road taking motorists on a scenic journey along a modern, high quality road.
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 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.
Financial aid from the European Union (EU) totalling €3.4 billion is yet further confirmation that Georgia is a reliable partner of the EU, Georgian Prime Minister Mamuka Bakhtadze said at a press briefing today.
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.
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The European Investment Bank (EIB) will fund Georgian microfinance company Crystal with €4.1 million to support Georgian micro enterprises with fewer than 10 employees.