Georgia to receive €16 million from EU to improve road safety along East-West highway
The Bank noted that “enhanced safety” on Georgia’s extended Trans-European Transport Network, connecting the country to Europe and certain local transport axes, would “strengthen its trade links and economic growth”. Photo via European Investment Bank
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Georgia will receive €16 million to improve road safety in the country along its East-West highway, as the European Commissioner for Neighborhood Policy and Enlargement Olivér Várhelyi and European Investment Bank President Werner Hoyer formalised a financial package at the Global Gateway Forum, by which the European Commission will provide a grant for the country.
The EIB said the project aimed to decrease the number and severity of accidents and improve safety on the roads, as well as to contribute “significantly” to improving transport connectivity along the trans-Caspian corridor linking Central Asia to Europe across the South Caucasus.
The Bank noted that “enhanced safety” on Georgia’s extended Trans-European Transport Network, connecting the country to Europe and certain local transport axes, would “strengthen its trade links and economic growth”.
We join forces with @eu_near under #GlobalGateway by providing a €16m grant to improve road safety in #Georgia along the East-West Highway. This will contribute to decrease road accidents, connect the country to Europe & strengthen economic growth. https://t.co/uMphOT74g0 #GGF23 pic.twitter.com/tgl1QAOHIW
— European Investment Bank (@EIB) October 26, 2023
In his comments, Georgian Prime Minister Irakli Garibashvili said the EIB “has invested in numerous projects to upgrade the country's roads, energy, water and agriculture, as well as to develop new transport infrastructure projects” since 2007.
The role of our development partners in the implementation of these projects is paramount. Among others, the EIB is one of the leading financial institutions that supports Georgia and aligns with our priorities. Since the start of operations, the EIB has invested more than €2 billion in our country”, he added.
In his turn, the Bank’s President highlighted the “long-standing” cooperation with Georgia in transport connectivity projects, stressing this investment was “another step in bringing the EU and Georgia closer together”.
Várhelyi said the East-West highway “opens up new economic and trade opportunities for Georgia as it strengthens the country’s role as a trade hub” along the Middle Corridor. “With this new investment in Georgia’s East-West highway, we are improving Georgia’s connectivity to Europe”, he noted.