NEWS

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

Agenda.ge, 13 Sep 2022 - 15:38, Tbilisi,Georgia

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.

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