USD 130m WB Loan for Roads, Regional Development

The World Bank approved two loans for Georgia with a total amount of USD 130 million to finance infrastructure development in the eastern region of Kakheti and road rehabilitation projects.USD 70 million loan, approved by the World Bank executive directors on March 15 and signed into agreement with the Georgian government on March 22, will finance improvement of nineteen sections of secondary and local roads with a total length of about 225 km in next two years.Financing is part of the World Bank’s Secondary and Local Roads Project with total funding of USD 90 million and in frames of which about 650 km of roads have been rehabilitated, according to the World Bank.A separate loan of USD 60 million, approved by the World Bank executive directors on March 20, will be used by Georgia for improving “infrastructure services and institutional capacity to support the development of tourism-based economy and cultural heritage circuits in the Kakheti region”.

Source Details : https://civil.ge/archives/121815