The ADB has Approved a Third Tranche for Sizeable Infrastructural Projects
Georgia and Asian Development Bank (ADB) have entered into agreements on financing sizeable infrastructural projects for the benefit of Georgia. These agreements were signed by the Minister of Finance, Nodar Khaduri, Director General, Central and West Asia Department (CWRD) of ADB, Klaus Gerhaeusser, Executive Director of the Municipal Development Fund of Georgia, Elguja Khokrishvili and Director of the United Water Supply Company of Georgia, Archil Tsabutashvili.
These Agreements provide for financing of the following projects:
„Urban Sector Improvement Investment Program – Project 3”
„Sustainable Urban Transport Investment Program – Project 3”
National significance projects will be funded under the third tranche.
Pursuant to the Loan Agreement, Georgia will receive from the ADB a USD 73 million credit for funding two projects of utmost importance. These projects are as follows: Modernization of the second section of Tbilisi-Rustavi Highway at the total project cost of USD 65,5 million and second phase works for Anaklia coastline protection at the cost of USD 7,5 million.
For the purpose of the third project implantation, the ADB has allocated for Georgia a concessional financing to the sum of about USD 98 million. The project will be implemented by the United Water Supply Company of Georgia. Rehabilitation of Kutaisi water supply system and construction of water supply and wastewater systems in Ureki are planned under the „Urban Sector Improvement Investment Program – Project 3”.
„Today we have entered into financing agreements on the projects of great significance for our Country. The Asian Development Bank is one of the most reliable and considerable investors operating in Georgia. Through their assistance we are implementing public and private projects. We will continue our cooperation in the sectors like road construction, water supply and coastline protection. We are firmly convinced that the cooperation will successfully progress in future as well.” – declared the Minister of Finance Mr. Nodar Khaduri.
„The Asian Development Bank is highly pleased with fruitful cooperation, which has been established with the Government of Georgia. These projects form part of the long-term investment program of the ADB in Georgia. Under the present projects, rehabilitation of the water supply and construction of the wastewater systems will be funded together with such infrastructural projects as modernization of the second section of Tbilisi-Rustavi Highway and Anaklia coastline protection works.” - stated Mr. Klaus Gerhaeusser,Director General of Central and West Asia Department (CWRD) of ADB.
