ADB to allocate $300 mln to Georgia
Georgia, Tbilisi, September 13 / Trend N. Kirtskhalia /
The Georgian government plans borrow $300 million from the Asian Development Bank (ADB) during the next eight years to develop infrastructure.
The Georgian parliament said that a framework agreement between the Georgian government and the ADB, which provides a funding program worth $300 million in 2010-2018, will be ratified next week.
The parliament will identify a specific project, which includes a loan worth $85 million, under the terms of the agreement next week.
The 28-year credit will be used to build roads in Mestia, construct and reconstruct a road in Kutaisi, continue construction of the second line of the Tbilisi subway, and construct a tunnel Gorgasali Street to a health resort, among other projects.
The first project is scheduled for 2016.