EBRD reviewed the concept of the Tbilisi Metro Project. According to the document published on EBRD’s official website, the provision of a sovereign loan is up to EUR 60 million to Georgia, expected to be co-financed by the EBRD and the Green Climate Fund (the “GCF”). The loan will be on-lent to the city of Tbilisi (the “city”) for the benefit of the Tbilisi Transport Company Ltd (the “company”), a municipal company, which operates buses, the metro system, and cable cars in Tbilisi.
According to the document, the investment will improve the reliability, safety, and efficiency of public transport through the acquisition of approximately 40 modern metro cars (10 train sets) for the company to replace existing, outdated rolling stock.
The project is part of a broader program aiming to assist the city in reforming its management of public transport by financing the renewal of bus and metro systems and network restructuring. EBRD Finance Summary EUR 50,000,000.00 €50 million sovereign loans to Georgia. Total Project Cost EUR 60,000,000.00. The total project cost is €60 million.