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Media: Georgia may break agreement with EBRD

Georgia Materials 19 September 2011 14:04 (UTC +04:00)
Media: Georgia may break agreement with EBRD

Georgia, Tbilisi, Sept. 19 / Trend N. Kirtskhalia /

Georgia intends to refuse an EBRD loan worth 100 million euros. "Kommersant" radio reported that the Georgian government discussed the issue of breaking the agreement with the EBRD. Other details are unknown.

The loan agreement between the EBRD and the "Georgian Railway" was signed in March 2010. According to the document, the EBRD will allocate 100 million euros to construct a bypass railway in Tbilisi. The "Georgian Railway" must allocate $70 million.

The EBRD knows nothing about the Georgian government's intentions.

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