Georgian parliament ratifies loan deal with Asian bank

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Georgian parliament ratifies loan deal with Asian bank

Georgian parliament ratifies loan deal with Asian bank

Loan proceeds will be used to improve municipal infrastructure and services in Georgia and Tbilisi regions 17.02.2022, Sputnik Georgia

2022-02-17T20:44+0400

2022-02-17T20:44+0400

2022-02-18T01:15+0400

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TBILISI, February 17 – Sputnik. The Georgian Parliament on Wednesday ratified the government’s agreement with the Asian Development Bank on a loan of 101 million euros. The proceeds of the loan will be used to improve municipal infrastructure and services, urban renewal and to develop public transport and tourist infrastructure in Tbilisi and regions of Georgia. The project has three stages and will end on December 30, 2027. According to the document, one of the components of the project is the construction and restoration of inclusive and climate-resilient infrastructure that will contribute to the renewal of Georgia’s urban centers. , the construction of public buildings and public places according to universal design and acceptable standards. Growth of the economy and reduction of public debt – Georgian Prime Minister’s forecast for 2022 >>The second part of the program is to improve the transport system and renew the cultural and historical centers of cities. organization of seminars and access to financial assistance for micro, small and medium enterprises and entrepreneurs operating in the project area. Of the 101 million euros, 95.6 million for social programs, 4.3 million for interest and liabilities and 600,000 for administrative costs. The loan will be issued for a period of 15 years at 0.15% per annum. Subscribe to video news from Georgia on our YouTube channel.

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Loan proceeds will be used to improve municipal infrastructure and services in Georgia and Tbilisi regions

TBILISI, February 17 – Sputnik. The Georgian parliament on Wednesday ratified the government’s agreement with the Asian Development Bank for a loan of 101 million euros.

The proceeds of the loan will be used to improve municipal infrastructure and services, urban renewal, development of public transport and tourist infrastructure in Tbilisi and regions of Georgia.

The project consists of three phases and will end on December 30, 2027.

According to the document, one of the components of the project is the construction and restoration of an inclusive and climate-resilient infrastructure that will contribute to the renewal of Georgia’s urban centers, the construction of buildings and public places according to a universal design and acceptable standards.

Growth of the economy and reduction of public debt – forecasts of the Prime Minister of Georgia for 2022 >>

The second part of the program is the improvement of the transport system and the renewal of the cultural and historical centers of the cities.

The third and final component of the project is to study institutional capacity development, organize workshops and access financial assistance to micro, small and medium enterprises and entrepreneurs operating in the project area.

Of the 101 million euros, 95.6 million will go to the execution of works, the purchase of goods and consultancy services, 500,000 – to social programs, 4.3 million – to interest and liability expenses and 600,000 – for administrative expenses.

The loan will be issued for a period of 15 years at 0.15% per annum.

Subscribe to video news from Georgia on our YouTube channel.

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