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New World Bank loans for Georgia

by | Mar 23, 2012

TBILISI, DFWatch – The World Bank has granted Georgia two new loans.

The loans total 130 million US dollars and will go to finance infrastructural development and rehabilitation of the roads in the eastern Kakheti region.

70 million US dollars was approved by the World Bank Board of Directors on March 15 and signed with the Georgian government on March 22. This loan will be spent for the next two years to develop about 19 sections of secondary and local roads of about 225 km in total.

On March 20, the World Bank Board of Directors approved another 60 million US dollars credit. It aims at strengthening infrastructure to develop the economy based on tourism and cultural heritage and strengthening institutional opportunities.



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