EBRD to finance the North-South Corridor Road Project
The Government of Georgia has applied for financing from the ADB and EBRD toward the cost of the North-South Corridor (Kvesheti-Kobi) Road Project.
Total Project Cost is USD 558, 6 million. USD 60 million to be provided by the EBRD, USD 415 million by the Asian Development Bank (ADB) and USD 83.6 million - by the government of Georgia.
The main objective of the project is to improve the connectivity, access, and safety on the North-South Corridor and to contribute to economic development. The project is the priority for the Government of Georgia and is part of a comprehensive road rehabilitation program, which aims to transform Georgia into a transport, logistics and a trade hub connecting Europe and Asia.
EBRD has also approved lending of 10 million Euros for public transport upgrade in Georgia.
The project aims to improve and modernize bus operations through the purchase of a 100 unit
Diesel buses with Euro V engines. The buses will be distributed in the following cities: Gori, Kutaisi, Telavi, Zugdidi, Rustavi, and Poti.
The amount of funding allocated by the EBRD in Georgia for more than 200 projects is about 3 billion euros.