The European Investment Bank (EIB) and the Georgian government have agreed to sign a deal that would allocate €250 million ($284 million) to infrastructure projects in Georgia, according to news sources.
The equity will go toward “vitally important” infrastructure projects, such as the construction and renovation of the Rustavi-Red Bridge-Sadakhlo highway.
“EIB is the financial instrument of the EU and our activities for Georgia confirm that you are part of Europe. The loan will provide opportunities for Georgia to come closer to the EU and use its geopolitical location to connect Europe with Asia,” said vice-president of the EIB, Vazil Hudak.
The new infrastructure projects will also create new jobs in Georgia.