EIB Provides EUR 106.7 Mln to Upgrade Georgia’s Highway
The European Investment Bank has provided EUR 106.7 million to the Government for upgrading Georgia’s East-West Highway, and extend it to borders with Armenia and Azerbaijan.
The improvement will cut travel times, improve road safety and improve connectivity within the South Caucasus region, a statement delivered by the EU Delegation to Georgia said.
Specifically, the funds will finance upgrading a 30 km-long section between Algeti and Sadakhlo, bordering Armenia, and a 32 km-long section between Rustavi and the Red Birdge, bordering Azerbaijan.
Teresa Czerwinska, the bank’s Vice-President said the loan expands support provided to Georgia amid the COVID-19 crisis, coming on top “of the EUR 170 million that EIB invested in the country’s SMEs and healthcare system during 2020 alone.”
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