ADB to finance Tbilisi-Rustavi highway construction on new terms
Georgia, Tbilisi, May 13 / Trend N.Kirtskhalia /
The Asian Development Bank (ADB) is to finance the construction of the Tbilisi-Rustavi highway on new terms providing for the involvement of mainly local workers in building the road, Deputy Minister of Regional Development and Infrastructure of Georgia Shota Murgulia told journalists on Monday.
The corresponding tender shall be announced this month.
"The money for the project has already been allocated. ADB would like us to hold the tender announced by the former authorities. However, we stated that the implementation of this project only with the participation of foreigners does not suit us. After five months of negotiations with the management of ADB we have obtained consent to this condition," Murgulia said.
Currently ADB finances projects in sectors such as municipal, urban, municipal and water infrastructure and transportation. The bank invests in the highway corridor programme. One of its priorities is lending to the banking and industrial sectors.
Georgia joined the ADB in 2007. Until today the bank has provided $781 million to the country. The total funding of current infrastructure projects is $531 million.