EBRD approves €50.6 million for upgrading metro stations in Tbilisi
The EBRD has allocated a sovereign loan of €50.6 million, including an investment grant of about €5 million, from its Green Climate Fund to finance the renovation of up to 12 metro stations in Tbilisi. Photo: EBRD
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The European Bank for Reconstruction and Development has allocated a sovereign loan of €50.6 million, including an investment grant of about €5 million, from its Green Climate Fund to finance the renovation of up to 12 metro stations in the Georgian capital city of Tbilisi, the Bank announced on Tuesday.
Georgian Finance Minister Lasha Khutsishvili said by signing the Tbilisi Metro Modernisation Loan Agreement with the EBRD, the Government hoped "to further our efforts to improve Georgia's environment and citizens' quality of life".
We also hope that the project's successful completion will encourage more people to use public transportation by enhancing the Metro system's accessibility, dependability, and safety. The project will improve the metro stations' energy efficiency that will help the city to build more effective infrastructure and lead to enhanced climate resilience", Khutsishvili said.
Georgian Finance Minister Lasha Khutsishvili and Mark Bowman, Vice President for Policy and Partnerships at the EBRD signed a loan agreement today. Photo: Ministry of Economy
Mark Bowman, Vice President for Policy and Partnerships at the EBRD, said Tbilisi had made "significant progress" in transforming its urban transport infrastructure to meet "growing environmental challenges" over the recent years.
The Bank also noted Tbilisi was one of the first cities to join its flagship Green Cities programme, which supports members in addressing their environmental challenges through sustainable investments and policy measures. The city was also one of the first to develop a Green City Action Plan.
A dozen of Tbilisi’s metro stations will have upgraded infrastructure with the financial support of the Asian Development Bank, mayor Kakha Kaladze announced on Tuesday.
Georgian prime minister Irakli Garibashvili on Wednesday discussed “successful cooperation” and future prospects between the European Bank for Reconstruction and Development and the country’s authorities with Odile Renaud-Basso, the president of the institution.
Current and future projects funded in Georgia by the European Bank for Reconstruction and Development were discussed on Thursday in a meeting between the Georgian finance minister Lasha Khutsishvili and Jurgen Rigterink, the first vice president of EBRD.
Odile Renaud-Basso, the president of the European Bank for Reconstruction and Development, on Thursday pledged the institution’s “continued support” for Georgia's economic advancement in the wake of the bank’s investment of €4.9 billion in 270 projects in the country, the Georgian ministry of economy said.
The European Bank for Reconstruction and Development will assign a $16 million loan, backed by the European Union and Sweden, to Georgia’s Credo Bank to support local micro, small and medium-sized companies and women-led firms in the country, the Bank announced on Tuesday.
Georgian Prime Minister Irakli Garibashvili and Odile Renaud-Basso, the President of the European Bank for Reconstruction and Development, on Saturday reviewed the current and future projects, financed by the Bank, including the ones in the fields of transport and municipal infrastructure, as well as education, energy, banking sector, and agriculture.
The Gotsiridze station of Tbilisi Metro opens and resumes operation starting Saturday, after the completion of rehabilitation and renovation works, the Tbilisi City Hall announced on Friday.
Georgian Railway on Tuesday said it would operate additional services to Black Sea cities of Poti and Batumi for the upcoming Easter holidays.
Georgian Prime Minister Irakli Garibashvili on Monday said his Government would “very soon” address the Parliament with a legislative initiative to regulate bus station infrastructure across the country and make passenger transportation “comfortable and safe”.
Modern bus stations will be built across Georgia as part of an infrastructural reform that aims to provide passengers with a better experience by May 2025, Economy Minister Levan Davitashvili said on Monday.
Georgian Prime Minister Irakli Garibashvili on Monday announced his Government would purchase 154 new buses to serve passengers in cities and towns beyond capital Tbilisi, spending ₾53 million ($20.31mln) for the purpose.
Georgian Railway on Tuesday said it would add further daily and nighttime services between capital Tbilisi and the seaside city of Batumi for the summer season.
Representatives of the Board of Directors of the European Bank for Reconstruction and Development will hold meetings with Georgian officials, entrepreneurs and civil society during their official visit to capital Tbilisi this week, the EBRD announced on Monday.
Georgian Prime Minister Irakli Garibashvili and the members of the board of directors of the European Bank for Reconstruction and Development on Thursday discussed the successful cooperation and important ongoing projects in private and public sectors implemented with the support of the Bank.
Georgian Prime Minister Irakli Garibashvili on Wednesday met Alkis Vryenios Drakinos, the new Regional Director of the European Bank for Reconstruction and Development for the Caucasus, in a discussion of the future cooperation between the country and the institution.
Levan Davitashvili, the Georgian Economy Minister, and Jürgen Rigterink, the visiting First Vice President of the European Bank for Reconstruction and Development, on Wednesday discussed the Bank’s activities in Georgia, its financial contributions over the years, and ongoing and planned large investment projects involving the country.
Ongoing and future projects financed by the EBRD in Georgia were discussed on Wednesday in a meeting between the Georgian Prime Minister Irakli Garibashvili and Jürgen Rigterink, the visiting First Vice President of the European Bank for Reconstruction and Development.
The European Bank for Reconstruction and Development has granted a $20 million loan to TBC Bank, one of Georgia’s largest banks, for women-led enterprises outside the capital city of Tbilisi.