Baku, Azerbaijan, September 14
By Tamilla Mammadova – Trend:
The Georgian Ministry of Finance will start negotiations with the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) to finance the Tbilisi Urban Railway project, said Minister of Finance of Georgia Ivane Matchavariani, Trend reports referring to the ministry.
The minister noted that the urban railway would better connect the Georgian capital with its suburbs, particularly with Lilo Market, Tbilisi International Airport as well as with large Georgian city of Rustavi.
The railway will feed into the underground metro system of Tbilisi connecting at Samgori metro station.
In total, seven new stations will be added to Tbilisi Metro within the project.
Matchavariani stated that the project is the initiative of Tbilisi City Hall and represents an important infrastructural junction, noting that the approximate cost of the project stands at $174-218 million.
“We know that the EBRD and EIB are interested in this project. At this stage, Tbilisi City Hall has asked the Ministry of Finance to engage in the details of the project. Even though we are considering obtaining loans, this is the project, which is also able to gain grants,” said the minister.