TURKEY TO PRESENT TO GEORGIA GUARANTEES IN RECEIVING CREDITS FOR CONSTRUCTION OF TBILISI-KARS ROUTE
Turkey will present to Georgia the financial guarantees in receiving credit for the construction of the Tbilisi-Kars railways route. The issue was discussed at a meeting of A meeting of the working groups of Azerbaijan, Georgia, and Turkey on the Kars-Akhalkalaki-Tbilisi-Baku railway route started in Istanbul on Monday, Trend reports.
In connection with the low credit solvency rating the Georgian side is in no condition to receive credits at profitable interests and the Turkish Transport Minister, Binali Yildirim, is eager to resolve the problem.
In this connection Yildirim will propose the Georgian side to receive the
loan though Ankara, as Turkey has strong position in the world fiscal market. Simultaneously, Azerbaijan will also deliver financial support to Georgia.
After approval of credit the sides will sign a protocol on payment schedule.
Turkey attaches great importance to the route, as it will open more economical route for the transportation of goods and services from Europe to Central Asia and onwards to China.
The construction of the railway route with the budget $252.7m has been postponed for 13 years in connection with the political and financial problems.