(www.rbc.ru) вЂ" The Kuwait Fund for Arab Economic Development will allocate a total of $30m, or 80 percent of the overall project's cost, to finance the construction of a highway in eastern Georgia.
Georgian Prime Minister Zurab Noghaideli told journalists today following a parliamentary visit to Kuwait and a meeting with the Kuwaiti government. Noghaideli pointed out that Georgia would finance the other 20 percent of the project's cost, reports Trend.
The PM also said that Kuwait would participate in the construction of an airport in Batumi, financing 10 percent of the project, carried out by Turkey's TAV URABAN.
Noghaideli also said that Kuwait would invest $720m in the construction of three hydropower stations on the Rioni River. These stations will fully cover Georgia's demand for electricity and will enable the country to export electricity surplus to Armenia and Azerbaijan in summer. The project is scheduled to be completed within the next five years.