European Investment Bank (EIB) will allocate additional EUR 250 mln for road infrastructure

European Investment Bank (EIB) will allocate additional EUR 250 mln for road infrastructure

Minister of Regional Development and Infrastructure of Georgia, Mrs. Maya Tskitishvili held a meeting with the representative of the European Investment Bank in South Caucasus, Mr. Sebastian Husson De Sampigny, Deputy Head of Department of Strategic Roads, Mrs. Lise Weidner and representatives of EIB Mission.
The parties talked about ongoing projects funded by the EIB and reviewed the details of future cooperation envisaging allocation of additional EUR 250 mln to Georgia for road infrastructure within the frames of “Transport Communication Project of Georgia (II)”. EIB has already allocated total of EUR 500 mln within the frames of two agreements under “Transport Communication Project of Georgia”. The above-mentioned financing agreements cover construction of 14 km long section of Grigoleti-Choloki, as well as construction of Chumateleti-Khevi (World Bank co-financing) and Ubisa-Shorapani road sections.
It was highlighted at the meeting that implementation of the projects will reduce travel and transportation time, improve safety on roads, develop tourism and international traffic.
The parties said that mutual cooperation becomes especially important on the backdrop of the EU-Georgia Association Agreement, which also covers Deep and Comprehansive Free Trade Agreement, which, on its part, supports development of more effective and safer connections.
Minister thanked the representatives of EIB for their support and hoped for broadening of cooperation.