Loans from Europe will fund highway works in the nation of Georgia

Loans from the European Investment Bank (EIB) and the EU will fiancé highway work in Georgia. The funds will be used to pay for the construction of the high-speed motor road running from West – East across Georgia. The EIB will give a long-term preferential credit worth €170 million, while the EU will provide a €20 million grant. As part of the project, a four lane highway measuring 52km will be built from Samtrediya – Grigoleti, while the 16km section Grigoleti - Kobuleti stretch will be repaired.
May 15, 2012 Read time: 1 min
Loans from the 1054 European Investment Bank (EIB) and the EU will finance highway work in Georgia. The funds will be used to pay for the construction of the high-speed motor road running from West – East across Georgia. The EIB will give a long-term preferential credit worth €170 million, while the EU will provide a €20 million grant. As part of the project, a four lane highway measuring 52km will be built from Samtrediya – Grigoleti, while the 16km section Grigoleti - Kobuleti stretch will be repaired.

For more information on companies in this article

Related Content

  • Chinese funding will help pay for Macedonia road project
    October 4, 2013
    In Macedonia a new 50km section of highway will be constructed, with €574 million of financing coming from China's Export-Import Bank. The Exim Bank credit line to Macedonia will be used to build a the highway connecting Skopje and Stip. The new route will also link Stip with pan-European transport corridor 10. The loan will carry an interest rate of 2% and will have a 20 year term with a five year grace period. Macedonia is close to completing work on the corridor 10 road project, which is worth €300 milli
    Read More
  • EIB supporting Finnish PPP highway project
    June 17, 2015
    The European Investment Bank (EIB) is providing financial support for a key Finnish highway project, which will be run on a PPP basis. The EIB is providing a €102 million long-term loan to finance the construction of a 32km highway stretch between Hamina and Vaalimaa in Finland. This section will be built on a public-private-partnership (PPP) basis. Using this model is expected to reduce the construction cost and also shorten the time needed to complete the work in comparison to a conventional procurement p
    Read More
  • ADB loan for Armenia-Georgia highway
    November 4, 2016
    Approval for a US$50 million loan to develop a highway stretch in Armenia has been given by the Asian Development Bank (ADB). The loan will be used to upgrade the M6 Highway from Vanadzor in Armenia to the country’s border with Georgia at Bagratashen. The route is one of the most strategic roads for internal and external trade for landlocked Armenia while it also lies close to the country’s border with Azerbaijan. The upgrading of this highway will also provide an important link to the Black Sea Ring Road p
    Read More
  • Serbia road project, funding secured
    February 19, 2019
    Construction of the 77km-long Merdare-Nis highway in Serbia is to benefit from external financing. A funding package worth €100 million is being supplied by the European Investment Bank (EIB) for the project. The funding will pay for work on a stretch of the route between Plocnik and Nis in southern Serbia. The highway will improve transport connections with neighbouring Kosovo when it is complete. This project forms part of a series of road building operations in the region, with extensive work having been
    Read More

Highlighted Content