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European Investment Bank to allocate funding for Georgian infrastructure

Wednesday, May 16
The European Investment Bank will allocate funding for construction of a Samtredia-Grigoleti-Choloki highway.

Minister of Regional Development and Infrastructure Ramaz Nikolaishvili and EU Ambassador Philip Dimitrov signed the grant agreement, and Minister of Finance Dimitri Gvindadze and the Vice-President of European Investment Bank Wilhelm Molterer signed the loan agreement. The grant agreement allocates Euro 20 million, and the loan agreement allocates Euro 170 million of long-term and preferential loans.

This section of the road is a 70km segment of the East-West Highway E60. Approximately 5,000 people will be employed in the construction, most of whom will be local residents living in rural areas. The Samtredia-Grigoleti-Choloki road will facilitate transportation, will contribute to the development of tourism at the Grigoleti resort, and will support the economic development of Guria and Imereti. (MRDI)