EBRD to allocate €90 mln to develop energy network in Georgia
It was noted at the meeting that the bank will support the country's economy during the coronavirus crisis and after the crisis to help the country return to its high rate of economic development. Photo: Nino Alavidze/Agenda.ge.
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The European Bank for Reconstruction and Development (EBRD) will allocate €90 million to finance a project which aims to strengthen the energy network in Georgia and to construct energy transmission lines in the country.
The project will include the construction of the Nenskra power substation and Nenskra-Mestia energy transmission line in Svaneti. It will also build the 500 kilowatt Lajanuri-Tskaltubo and 220 kilowatt Tskaltubo-Namakhvani and Namakhvani-Tvishi-Lajanuri energy transmission lines.
An online meeting about the matter was carried out between Finance Minister Ivane Matchavariani, EBRD Director for the Caucasus Catarina Bjorlin Hansen and EBRD Managing Director for Eastern Europe and the Caucasus Matteo Patrone.
It was noted at the meeting that the bank will support the country's economy during the coronavirus crisis and after the crisis to help the country return to its high rate of economic development.
The European Bank for Reconstruction and Development is an international financial institution founded in 1991. It is one of Georgia's largest partners.