EIB will finance construction and rehabilitation by 250 million euros

EIB will finance construction and rehabilitation by 250 million euros

The European Investment Bank (EIB) will allocate 250 million euros in the framework of the Georgian Transport Communication Project.
The financial contract was signed by First Vice Prime Minister, Minister of Finance of Georgia-Dimitry Kumsishvili , Minister of Regional Development and Infrastructure of Georgia – Zurab Alavidze and Vice-President of the European Investment Bank - Vazil Hudak.
The funds allocated by the European Investment Bank, will be spent on construction and rehabilitation of approximately 253 km of main and secondary roads across Georgia.
As a result implementation of the project, the time required for travel and transportation will be reduced, transportation safety will be improved and there will be a increase of trade, number of tourists and international traffic. The project will be implemented by Roads Department of the Ministry of Regional Development and Infrastructure of Georgia.