Signing of the agreement
By Messenger Staff
Tuesday, July 3A credit agreement was signed between Georgia and the International Development Association, for additional funding of the third project that makes up the East-West Highway Project. The agreement was signed by the Minister of Finance, Mr. Dmitri Gvindadze, and the acting Regional Director of the World Bank, Helen Imnadze. The signing ceremony was attended by Minister of Regional Development and Infrastructure, Ramaz Nikolaishvili.
The agreement provides for the allocation of financial resources by the World Bank in the amount of $43 million in long-term and preferential credit, for funding of the third stage of the East- West Highway project, which is being implemented through the support of the World Bank. In the frames of the project, the rehabilitation and reconstruction (into a 4 lane highway) of one segment of East-West Highway, as well as construction of a new bypass. Construction and rehabilitation of the section, which has a total length 19 km, will be implemented by the Road Department of the Ministry of Regional Development and Infrastructure. The project includes the construction of two parallel 140 meter-long bridges over the river Ptsa and two parallel 185 meter-long bridges on the River Prone. One 81 meter long railway viaduct and 5 gateways will also be constructed. The road will be covered with fresh cement and concrete and drainage channels will be constructed. The new infrastructure will be developed along the road. Almost 2,000 people will be employed on the construction and rehabilitation project, most of whom, are from local populations from the rural areas.