BAKU, Azerbaijan, April 29
By Tamilla Mammadova – Trend:
The European Investment Bank (EIB) will give the Georgian government a 106.7 million euros loan for the reconstruction of the East-West highway, Trend reports via the press service of the country's Ministry of Regional Development and Infrastructure.
The construction and modernization of the East-West highway are one of the most important projects being implemented in the country. To date, the EIB has invested 250 million euros in this project.
With the help of a new loan from the Bank, two sections will be repaired: the 30-kilometer Algeti-Sadakhlo road and the 32-kilometer Rustavi-Red Bridge road.
Upon completion of the work, a modern and safe road will be created connecting with Armenia. This road will be used to transport passengers and goods.
The East-West highway, or European transit road E-60, is the second-largest European transit corridor, which starts in Brest (France) and ends in Irkeshtam (Kyrgyzstan). In Georgia, the E-60 starts at the border with Azerbaijan and ends on the Black Sea coast near the port of Poti, from where the route continues to the Turkish border. On the territory of Georgia, the length of the corridor is 392 kilometers.
The total volume of investments of the European Investment Bank in the development of road infrastructure in Georgia is up to one billion euros, which is half of the capital investments made by this international financial institution in the country.
The EIB loan is part of a 1.5 billion euros co-financing program from the following international financial institutions: EIB, World Bank, Japan International Cooperation Agency, and Asian Development Bank.
The Georgian government is a participant in the program, and the modernization of the country's transport infrastructure is the stated goal of this initiative.
Since its presence in Georgia in 2007, the European Investment Bank has invested nearly 2 million euros in 23 projects in the country's infrastructure, private sector, and climate change.
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