EBRD Allocates $60 Mln, Co-Finances Kvesheti-Kobi Project

The European Bank for Reconstruction and Development (EBRD) has approved a $60 million loan, thus engaging in the financing of the construction of the 9km-long Kvesheti-Kobi tunnel in the northeast of Georgia, which is the part of the North-South corridor.

Aside from the EBRD, the Asian Development Bank (ADB) has already allocated funds worth $415 million for the 23-kilometer road and tunnel, connecting Kvesheti and Kobi, whereas the financial contribution of the government of the country amounts to $83.6 million.

The new bypass road is expected to improve safe travel for freight trucks, tourists, as well as local residents who are often delayed due to the difficult terrain and severe weather conditions in the winter season in particular. It is set to remain fully operational for the entire year and reduce the risks of road accidents.

The project will include five tunnels with a total length of nearly 11.6 km (the longest of which is about 9 km), and six bridges with a total length of about 1.6 km. It is set to be completed in 2023.

By Ketevan Kvaratskheliya

Image source: YouTube/IDOM Consulting, Engineering, Architecture