European bank offers €250m to improve road infrastructure in Georgia

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.