The European Union will allocate a grant to Georgia to finance the Transport Connectivity Project
The European Union will allocate a grant to Georgia to finance the Transport Connectivity Project
12 December, 2018 14:57:46

In the Ministry of Regional Development and Infrastructure of Georgia, a contract was signed between the European Union and the European Investment Bank regarding technical assistance within the Georgia Transport Connectivity Project. A new project will ensure technical assistance necessary for construction of new and safe roads throughout Georgia.

The event was attended by First Deputy Minister of Regional Development and Infrastructure of Georgia, Chairman of Roads Department Irakli Karseladze, Director of Cooperation with the Eastern Partnership Countries of the EU Laurence Meredith, Head of Lending Operations Department with the Eastern European Countries Lionel Rapai, EU ambassadors, representatives of the European Investment Bank and the Ministry of Finance of Georgia.

The European Investment Bank will finance three most important projects involved in the highway by 500 million EUR: together with the WB, construction of Chumateleti-Khevi section, construction of Ubisa-Shorapani and Grigoleti-Kobuleti bypass road. With the discounted loan, the EU will allocate a grant amount to Georgia to finance Georgia Transport Connectivity Project. At the first stage, the EU will allocate about 6 million EUR as a tranche.

The project consists of three main components: technical assistance to the Roads Department in the direction of project management; implementation of the relevant study to reveal “blackspots” adjacent to East-West highway and nearby to improve traffic safety and implementation of various studies for preparation of future projects (for example, Feasibility Study, preparation of Environmental Impact Assessment and Social Affairs Assessment, etc.).

IN order to finance the technical assistance envisaged by the Georgia Transport Connectivity Project, today, a contract was signed between the European Union and the European Investment Bank, while by the end of this year, a contract will be concluded to manage the project directly, between the Ministry of Regional Development and Infrastructure of Georgia and the European Investment Bank.

With the financial support of the European Investment Bank, construction of Samtredia-Grigoleti road (Lot 4) and Zemo Osiauri-Chumateleti road (Lot I) is already underway on the highway.

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