Georgian Finance Ministry, German Development Bank sign loan, grant deal to upgrade Tbilisi transport infrastructure
Lasha Khutsishvili, the Minister of Finance of Georgia and Birgit Holderied-Kress, the German Development Bank South Caucasus Regional Office Director, signed a new loan and grant agreement in Tbilisi on Tuesday. Photo: Ministry of Finance press office
Tweet 
Share
The Ministry of Finance of Georgia and the German Development Bank on Tuesday signed a €47 million loan and €1.5 million grant agreement to develop an intelligent transport system and transit corridor in the Georgian capital of Tbilisi, the Ministry of Finance of Georgia said.
The signing ceremony was attended by Peter Fischer, Ambassador of Germany to Georgia, along with KfW, the Georgian Ministry of Finance and Tbilisi City Hall representatives. Photo: Ministry of Finance press office.
Signed by Lasha Khutsishvili, the Minister of Finance of Georgia and Birgit Holderied-Kress, the KfW South Caucasus Regional Office Director, the deal is aimed at contributing to increased safety on roads, traffic congestion relief and improvement of environmental conditions in Tbilisi.
The project will be implemented by Tbilisi City Hall’s Municipal Transport and Urban Development Agency.
Georgia will receive a $16,250,000 grant from the German state development bank KfW over the next six years to create and develop protected areas in the country, the Environment Ministry announced on Sunday.
The German Government will allocate €1.3 million through the German Development Bank to support the introduction of the green hydrogen technology and develop relevant conducive legal framework in Georgia, the Embassy of Germany announced on Tuesday.
A declaration has been signed between the Georgian Economy Ministry and the German Development Bank (KfW) earlier today on the development of clean and renewable energy in Georgia. The study of green hydrogen potential begins in Georgia, the Economy Ministry reports.
The agreement with KfW is part of the financial support that the Georgian government has attracted from its international partners to contain the spread of the coronavirus and help restore the Georgian economy.
Tbilisi mayor Kakha Kaladze on Wednesday pledged his body would ensure the “fastest, most accessible and comfortable” public transport and reduced traffic congestion in the capital city, in response to citizens’ worries over recently observed traffic jams and overcrowded public transport.
Georgia is hosting a delegation of the German federal ministry of economy and climate protection for the first time following the Covid pandemic this week, with the country set to also bring business professionals of the two countries together in an economic forum.