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EIB to allocate €250M for road construction in Georgia


Georgia and European Investment Bank (EIB) will sign a new loan agreement for allocation of €250 million in July, Georgian Finance Minister Dmitry Kumsishvili said, APA-Economics reports citing to Sputnik-Georgia agency.  

 

According to him, this fund will be directed to financing of construction of East-West highway.

 

The minister added that EIB’s investments in Georgia in 2016 doubled to €1 billion.

 

The East-West highway is the second largest transit corridor of Europe from France’s Brest city to Irkeshtam city of Kyrgyzstan. E-60 highway in Georgia connects Azerbaijan’s border with Poti Seaport in Georgia. Length of the highway makes up 392 km.

 

EIB regional office has been in operation in Georgia since 2015

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