Gov’t to offer construction companies 1.5-2 billion GEL projects in 2022
The Prime Minister added the Government had also discussed the programme with banks in advance, adding they agreed to finance the projects and allocate additional funding. Photo: Nino Alavidze/Agenda.ge
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The Georgian Government will offer projects worth about 2 billion GEL ($647mln/€587mln) to the construction business in the country this year, Georgian Prime Minister Irakli Garibashvili announced on Monday.
The programme, initiated by the Government head in February, seeks to accelerate economic growth in the country and improve its public infrastructure by investing in new development.
We offered the construction sector to attract additional financial resources to receive guaranteed orders for construction and rehabilitation of public infrastructure,” Garibashvili said in comments on the move.
He further noted several ministries had already submitted their lists of projects to be completed within three to five years and called the projects “quite diverse”. Comprehensive information on the projects is expected to be made available within a week.
The PM also pointed to examples, including 800 schools to be renovated to “European standards” for the Education Ministry, and said the Government aimed to begin implementing projects originally set by 2025 this year.
I think this is a very good offer for the business. On the one hand, the government will implement its own projects ahead of time, and on the other hand, of course, businesses will also benefit from this, as it will accelerate economic growth,” Garibashvili said.
The Prime Minister added the Government had also discussed the programme with banks in advance, adding they agreed to finance the projects and allocate additional funding.
The PM originally announced the Government's initiative on February 14, revealing his team would offer developer companies on the Georgian market guaranteed construction orders to ensure 1-2 percent additional economic growth through attraction of new finances from banks for the developers.
The projects range from the construction of half a million square metres of residential space for the internally displaced persons, to the construction of a “Police City”, the building and rehabilitation of law enforcement offices, and projects for rehabilitating and constructing schools and kindergartens.
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