TBILISI, Georgia, May 2. European Investment Bank (EIB) expects to finalize the assessment of the Black Sea submarine internet cable project in the near future, Vice-President of the European Investment Bank Teresa Czerwińska said, Trend reports.
She made the statement during the "Enhancing Connectivity: European Connectivity (Renewable Energy and Digital Connectivity) Middle Corridor (Reshaping Euro-Asia Connectivity)" and "Collaborative Fintech Community: Building on the Middle Corridor Momentum" panel discussions at the 57th ADB Annual Meeting in Tbilisi.
"We have a successful track record of raising private funding. Having high-speed internet access is critical for secure regional connectivity. We are now investigating a concept for underwater digital connectivity in partnership with Georgia and Romania," she said.
Czerwińska noted that the tech market in the region is growing rapidly and the demand for this kind of services is high.
"We are currently assessing the entire project cost. The project is extremely complicated, not only from a technical aspect, but also in terms of securing private funding and structuring financing. I anticipate that we will complete the project evaluation within the next few months," she said.
To note, the theme for the 57th Annual Meeting to be held from May 2 to May 5 is “Bridge to the Future.”.
The opening session of the Board of Governors will take place on
May 4. The opening session marks the official start of the annual
meeting. It is a high-profile event attended by the guest of honor
from the host country. Remarks will be made by ADB President
Masatsugu Asakawa and the Minister of Finance of Georgia and Chair
of the ADB Board of Governors, Lasha Khutsishvili.
The annual meeting is an opportunity for ADB governors to consider
development issues and challenges facing Asia and the Pacific.
Several thousand participants, including finance ministers, central
bank governors, senior government officials, members of the private
sector, representatives of international organizations and civil
society organizations, youth, academia, and the media, regularly
join the meeting.
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