EIB Finances €250 mln Loan for Infrastructure Projects in Georgia

The European Investment Bank (EIB) and the Georgian government have signed a deal to allocate €250 million Euros to infrastructure projects in Georgia.

Georgian Prime Minister Mamuka Bakhtadze and Vice-President of the EIB, Vazil Hudak, signed the deal in Tbilisi on 19 February.

The money will go towards “vitally important” infrastructure projects, said the government of Georgia such as the construction and renovation of the Rustavi-Red Bridge-Sadakhlo highway. “Such highways significantly increase Georgia’s transit role,” stated Bakhtadze.

“EIB is the financial instrument of the EU and our activities for Georgia confirm that you are part of Europe. The loan will provide opportunities for Georgia to come closer to the EU and use its geopolitical location to connect Europe with Asia,” said Hudak.

Bakhtadze said he considers the EIB an important partner in Georgia’s development. The new infrastructure projects should also create new jobs in Georgia.

by Amy Jones 

Photo source - Vestnik Kavkaza