Maya Tskitishvili and Vice President of EIB talked about the joint projects

Maya Tskitishvili and Vice President of EIB talked about the joint projects

Minister of Regional Development and Infrastructure of Georgia, Mrs. Maya Tskitishvili, Deputy Minister and Heads of sub-agencies of the Ministry held a meeting with the Vice-President of EIB, Mr. Vazil Hudak and the representatives of the Bank.  
The parties discussed the EIB financed projects and the details of future cooperation. The Bank funds various projects in Georgia in the field of transport, water supply and municipal infrastructure.
European Investment Bank has already allocated EUR 500 mln to Georgia within the frames of two loan agreements under “Georgia Transport Communication Project”. The project covers construction of a 14 km long section of Grigoleti-Choloki road, as well as construction of Chumateleti-Khevi (co-financing from the World Bank) and Ubisa-Shorapani section on Rikoti Pass.
Consultations are underway with the Bank for allocation of additional EUR 250 mln for road infrastructure within the Georgia Transport Communication Project (II).
As of today from the funds allocated by the EIB to Georgia, around EUR 1.3 mln is directed to improvement of the Country’s infrastructure. Out of the above-mentioned funds, EUR 750 mln is spent on road sector, EUR 200 mln – on infrastructure and EUR 180 mln – on water supply.
Implementation of road infrastructure will reduce travel and transportation time, improve safety on roads, develop tourism and international traffic; municipal and water supply-water discharge projects will improve living conditions. Implementation of the above-infrastructure projects will create jobs.
To support EIB funded projects, European Union will allocate grants both for infrastructure as well as for carrying out capacity building activities.
Mrs. Tskitishvili thanked the Vice-president for the support and hoped for further deepening of cooperation.