Georgia, Tbilisi, 7 November / Trend corr. N.Kirtzkhalia / The World Bank (WB) and Georgian Government signed a loan contract on additional financing of the project for improvement of the East-West motor highway.
Tamar Sulukhiya, an official of the WB, and Nikolaz Gilauri, the Georgian Finance Minister signed a contract on additional financing of the project for improvement of the East-West motor highway, the WB Representation in Tbilisi said.
The project with $20mln cost will enable to realize one of priorities of the Georgian Government - improvement of main transport corridor of the country.
The WB confirmed the first project on highway improvement with $29mln cost in December 2006 and the second - at $35mln amount - on 18 December in 2007. The WB confirmed the third project at the quickened regime in October 2008 in response to the August developments.
"Allocation of additional financing indicates close cooperation between the WB and Georgian Government," Sulukhiya said at the end of signing ceremony.
"The program envisages projecting next section of the highway to Rikoti tunnel, as well," she said.
Tasks of the project include phased reduction of road and transport expenditures, improvement quality of transit and security in a central part of the highway.
The WB cooperates with Georgia since 1995, and issued 55 loans and grants at $1.62bln amount, which were spent to finance 46 projects.
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