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U.S. will continue funding Georgia under the "Millennium Challenge" project

Business Materials 6 January 2011 15:59
The United States intends to continue funding Georgia under the "Millennium Challenge" Project, Prime Minister’s spokesperson Nika Mchedlishvili said at a special briefing on Thursday.
U.S. will continue funding Georgia under the "Millennium Challenge" project

Georgia, Tbilisi, Jan. 6 / Trend N.Kirtzkhalia /

The United States intends to continue funding Georgia under the "Millennium Challenge" Project, Prime Minister's spokesperson Nika Mchedlishvili said at a special briefing on Thursday.

Mchedlishvili said the Board of Directors of the U.S. government's Millennium Challenge Corporation decided to allocate funds for the implementation of the project's second phase during yesterday's meeting.

"The amount of the allocated funds will be known later. The Georgian government and the United States also agree on the projects for which funds will be allocated," Mchedlishvili said.

He said part of the funds will be directed towards the construction of a new technological university in Batumi and several infrastructure projects.

"According to preliminary calculations, the construction of a new university in Batumi will cost 40-50 million lari. It should also be noted that on completion it will be outsourced to one of the universities in the U.S. Consequently, the university will issue state diplomas of the United States," he said.

The corporation will provide this financial assistance in the form of a grant.

Several years ago, Georgia received $400 million under the program.

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