Tbilisi, Georgia - 6C Cumulonimbus clouds observed / 14:29
European Investment Bank to Allocate 222m EUR to GeorgiaThe government of Georgia will receive 222m EUR from the European Investment Bank (EIB) to finance 5 various projects in 2009-2011, says the Finance Ministry of Georgia. 56ml EUR will be allocated to finance the construction of a 500-kw high-voltage transmission line.
The agreement on the project implementation will be signed in May, 2009, Finance Minister Nika Gilauri said. The European Bank for Reconstruction and Development (EBRD), the Development Credit Bank of Germany (KFW) and the European Investment Bank (EIB) will jointly finance the project. The project price totals 220m EUR.
90ml EUR will be allocated for the construction and rehabilitation of hydro power plants. In 2009 the government of Georgia will expectedly receive 65ml EUR from EIB. The bank will also disburse 11ml EUR for the rehabilitation of the runway of the Tbilisi International airport |
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