European Investment Bank allocates €250 million loan for major infrastructure projects in Georgia

  • Georgia will use the loan to construct and renovate regional highways. Photo: wikipedia., 19 Feb 2019 - 13:52, Tbilisi,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.

The deal was signed in Tbilisi today by Georgian Prime Minister Mamuka Bakhtadze and Vice-President of  EIB Vazil Hudak.

Bakhtadze hailed EIB as “one of the most important partners”, supporting the country boost its role in the region and the world.

We will use the money for concrete projects such as the Rustavi-Red Bridge-Sadakhlo highway construction and renovation. Such highways significantly increase Georgia’s transit role,” Bakhtadze said.

Hudak stated that Georgia is developing dynamically and that the country is the “regional leader.”

EIB is the financial instrument of the EU and our activities for Georgia confirm that you are part of Europe. The loan will provide opportunities for Georgia to come closer to the EU and use its geopolitical location to connect Europe with Asia,” Hudak said.

The EU Ambassador to Georgia Cark Hartzel stated that the new infrastructure projects will also create new jobs.