Minister of Regional Development and Infrastructure Maia Tskitishvili, Deputy Ministers and heads of sub-companies met with the Vice President of the European Investment Bank (EIB) Vazil Houda and the representatives of the Bank.
At the meeting, the sides discussed the ongoing projects on EIB financing and details of future cooperation. The Bank finances many projects in Georgia as well as transportation, water supply and municipal infrastructure.
The European Investment Bank has already allocated 500 million euros in the frames of two agreements of the Georgian Transport Communication Project. Within the framework of these financing agreements, a 14-kilometer section of Grigoleti-Cholokhi road is planned. Also, the construction of Chumatleti-Khevi (with the World Bank) and the construction of Ubisa-Shorapani sections on the Rikoti section.
Consultations on the allocation of additional 250 million euros for road infrastructure within the framework of “Georgian Transport Communication Project (II)” are underway with the Bank.
As of today, EIB has been directed to improve the country’s infrastructure from around 1.3 billion euros, from € 750 million to the roads sector, 200 million euros for municipal infrastructure sector and € 180 million in water sector.
As a result of the implementation of road infrastructure projects, the time required for travel and transportation will be improved, the traffic safety will be improved, tourism and international traffic will be improved, municipal and water supply and wastewater projects will improve the living conditions of the population. Additional jobs will be created during construction of these infrastructural projects.
In order to support projects funded by EIB, the EU will allocate grants to Georgia for financing the infrastructure and institutional capacities.
The Minister thanked the Vice President of the European Investment Bank for his support and expressed hope for further cooperation.