The Georgian Parliament ratified a loan agreement to build a road to Russia

Парламент Грузии ратифицировал кредитное соглашение о строительстве дороги к РФ

The Parliament of Georgia on Tuesday, 10 December, by a majority of voters ratified a loan agreement with the European Bank for reconstruction and development (EBRD) on the allocation of $ 60 million for the construction of roads Kvesheti – Kobe (the region of Mtskheta – Mtianeti region), leading to the border with Russia.

Voting in a live broadcast on the legislature’s website, writes finanz.ru.

“The total cost of the specified road is 558,6 million dollars, approximately $ 416 million of which is financed by the Asian development Bank, and the rest, approximately $ 60 million, allocated by the European Bank for reconstruction and development. The duration of the loan is 18 years and a grace period of four years”, – said Deputy Minister of Finance of Georgia, Giorgi Kakauridze, presented to the deputies the draft resolution on ratification. He said that parliamentary ratification of the first agreement to Finance the construction of Kvesheti – Kobi, Asian development Bank, was about a month ago.

In addition to the Asian development Bank and the European Bank for reconstruction and development in the construction of the road will involve the government of Georgia is ready to invest 83.6 million dollars. It is anticipated that construction will begin this year. It will lead the Chinese company “23 bureaus of the Chinese railway”.

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