ADB allocates €101 mln loan for upgrading infrastructure, boosting regional development in Georgia
Georgia has received a total of $3.92 billion worth of loans from ADB and undertaken technical assistance projects worth $28.9 million since 2007. Photo: Nino Alavidze/Agenda.ge.
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The Asian Development Bank (ADB) has approved a €101 million loan to build and upgrade infrastructure and enhance services in urban centres to boost regional development and economic opportunities in Georgia.
The project aims to support the country’s recovery from the pandemic and ‘make its cities more livable, inclusive, and climate-resilient.’
ADB reports that the Livable Cities Investment Project for Balanced Development will benefit more than 1.5 million people both in Tbilisi and nationwide.
The project will upgrade city centres, public spaces, parks, and public transport to improve mobility. The project will construct libraries, e-learning centers, kindergartens, sports complexes, and other community buildings,” ADB reports.
It also aims to improve accessibility for older people, people with disabilities, women, and children via the ADB-developed Inclusive Cities Guidelines.
This project will help make Georgia an even more attractive destination, and boost business opportunities for local communities,” Ramola Naik Singru, ADB Principal Urban Development Specialist, said.
ADB Director General for Central and West Asia, Yevgeniy Zhukov, also stated that Georgia has made ‘significant economic gains over the past few years,’ noting however that ‘growth has been unevenly distributed and severely affected by the COVID-19 pandemic.’
Georgia has received a total of $3.92 billion worth of loans from ADB and undertaken technical assistance projects worth $28.9 million since 2007.
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