Black Sea submarine cable project will contribute to strong economic, political connection between Georgia, South Caucasus, European countries - World Bank official
Molineus noted it was a pleasure for the Bank to be involved in the implementation of the “highly strategic project”, which would bring energy security “not only to Georgia, but broadly to the South Caucasus region and Europe”. Photo via Economy Ministry
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Sebastian Molineus, the World Bank Regional Director for the South Caucasus, on Thursday said the Black Sea submarine cable project would contribute to a “very strong” economic and political connection between Georgia, the South Caucasus and European countries.
Molineus noted it was a pleasure for the Bank to be involved in the implementation of the “highly strategic project”, a new transmission route to deliver green energy from Azerbaijan to Europe, which would bring energy security “not only to Georgia, but broadly to the South Caucasus region and Europe”.
Officials from Georgia, Azerbaijan, Romania and Hungary on Thursday met in Tbilisi to discuss various stages of the implementation of the project, the Economy Ministry said.
The four countries signed the project in December, with the projected infrastructure - the 1,195 km long cable with 1,100 km of its length laid underwater - enabling the countries of the South Caucasus and Romania to develop the renewable energy sector and increase transit opportunities, as well as bilateral trade potential between the EU and the region.
The European Union “strongly supports” the Black Sea submarine cable project, a new transmission route to deliver green energy from Azerbaijan to Europe, and hopes the South Caucasus will become a “very important” source of energy for Europe, Paweł Herczyński, the Ambassador of the European Union to Georgia, said on Thursday.
Georgian Prime Minister Irakli Garibashvili on Thursday discussed his country’s European integration prospects and the Black Sea submarine cable international project with Péter Szijjártó, the Minister of Foreign Affairs and Trade of Hungary.
Georgian Government officials and professionals from the Italian consulting company CESI on Tuesday visited western Georgia's Black Sea coastal town of Anaklia to select the approximate route and locations for the Black Sea submarine electricity cable project, an international initiative to connect the South Caucasus power grid to that of Europe.
Georgian Prime Minister Irakli Garibashvili on Monday stressed the importance of the recently signed Black Sea submarine cable international project and said the endeavour was a “Georgian initiative", in remarks to the Ambassadors Conference in Tbilisi.
The cooperation between Georgia and the World Bank, as well as projects implemented both in public and private sectors of the country with the latter’s support were discussed on Wednesday between the Georgian Finance Minister Lasha Khutsishvili and Antonella Bassani, the Vice President of the World Bank for the Europe and Central Asia.
Georgian Prime Minister Irakli Garibashvili on Friday told MPs Brussels, the European Union and “large financial institutions” were backing the Black Sea submarine electricity cable project for linking the power grid of the South Caucasus with those of EU states.
Strategic cooperation between Georgia and the United States and the partnership in trade, transport and energy were discussed on Saturday in a meeting between the Georgian Deputy Economy Minister Genadi Arveladze and Heidi Gomez, the US Deputy Assistant Secretary of State.
Georgian Prime Minister Irakli Garibashvili on Thursday told Kadri Simson, the European Commissioner for Energy Affairs, his Government was anticipating the granting of the European Union membership candidate status to the country following the positive recommendation of the European Commission this month.