Georgia is upgrading roads to the borders of Azerbaijan and Armenia
Two sections of the East-West highway will be repaired: the 30-kilometer Algeti-Sadakhlo road and the 32-kilometer Rustavi-Krasny Bridge road.
The European Investment Bank (EIB) has allocated a loan of 106.7 million euros to the Georgian government for the construction of roads to the borders of Azerbaijan and Armenia, which are parts of the East-West expressway, the EU delegation to Georgia reports.
The construction and modernization of the East-West expressway is one of the most important projects being implemented in the country.
With the help of the new EIB loan, two sections will be repaired: the 30-kilometer Algeti-Sadakhlo road and the 32-kilometer Rustavi-Krasny Bridge road.
After the completion of the work, a modern and safe road will be created connecting Georgia with Armenia and Azerbaijan. Passengers and cargo will be transported along this road.
As a result of the modernization, traffic safety on the highway will increase, the cost of travel and maintenance of vehicles will be reduced, and the economic and territorial unity of Georgia will be strengthened. As a result of these works, communications in the South Caucasus region will also be improved and facilitated.
"This investment will be added to the 170 million euros that the EIB allocated in 2020 to help small and medium – sized enterprises in Georgia, and to strengthen the healthcare system," said EIB Vice President Teresa Chervinska.
The East-West highway, or the European Transit Road E-60, is the second largest European transit corridor, which begins in Brest (France) and ends in Irkeshtam (Kyrgyzstan). In Georgia, the E-60 begins 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 investment volume of the European Investment Bank in the development of Georgia's road infrastructure is up to a billion euros, which is half of the capital investments made by this international financial institution in the country.
The loan provided by the EIB is part of a program providing for joint financing in the amount of 1.5 billion euros from the following international financial institutions: the EIB, the World Bank, the Japan International Cooperation Agency and the Asian Development Bank. The Government of Georgia 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 almost 2 million euros in 23 projects in the country's infrastructure, the private sector and the fight against climate change.
In 2020 alone, the European Investment Bank Group invested 70 million euros in the fight against the new coronavirus to support small and medium-sized enterprises in Georgia and allocated 100 million euros for the needs of the country's healthcare system.
Sputnik-georgia.ru
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Georgia is upgrading roads to the borders of Azerbaijan and Armenia
Two sections of the East-West highway will be repaired: the 30-kilometer Algeti-Sadakhlo road and the 32-kilometer Rustavi-Krasny Bridge road.
The European Investment Bank (EIB) has allocated a loan of 106.7 million euros to the Georgian government for the construction of roads to the borders of Azerbaijan and Armenia, which are parts of the East-West expressway, the EU delegation to Georgia reports.
The construction and modernization of the East-West expressway is one of the most important projects being implemented in the country.
With the help of the new EIB loan, two sections will be repaired: the 30-kilometer Algeti-Sadakhlo road and the 32-kilometer Rustavi-Krasny Bridge road.
After the completion of the work, a modern and safe road will be created connecting Georgia with Armenia and Azerbaijan. Passengers and cargo will be transported along this road.
As a result of the modernization, traffic safety on the highway will increase, the cost of travel and maintenance of vehicles will be reduced, and the economic and territorial unity of Georgia will be strengthened. As a result of these works, communications in the South Caucasus region will also be improved and facilitated.
"This investment will be added to the 170 million euros that the EIB allocated in 2020 to help small and medium – sized enterprises in Georgia, and to strengthen the healthcare system," said EIB Vice President Teresa Chervinska.
The East-West highway, or the European Transit Road E-60, is the second largest European transit corridor, which begins in Brest (France) and ends in Irkeshtam (Kyrgyzstan). In Georgia, the E-60 begins 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 investment volume of the European Investment Bank in the development of Georgia's road infrastructure is up to a billion euros, which is half of the capital investments made by this international financial institution in the country.
The loan provided by the EIB is part of a program providing for joint financing in the amount of 1.5 billion euros from the following international financial institutions: the EIB, the World Bank, the Japan International Cooperation Agency and the Asian Development Bank. The Government of Georgia 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 almost 2 million euros in 23 projects in the country's infrastructure, the private sector and the fight against climate change.
In 2020 alone, the European Investment Bank Group invested 70 million euros in the fight against the new coronavirus to support small and medium-sized enterprises in Georgia and allocated 100 million euros for the needs of the country's healthcare system.
Sputnik-georgia.ru
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