EBRD will Fund Georgian Railway Project
A railway project in Georgia that bypasses the capital Tbilisi has been granted a €100m ($135.5m) loan from the European Bank for Reconstruction and Development (EBRD).
It will replace an existing section of railway running through the city centre, which is part of the main freight route on the country’s east-west transport corridor used for cargo transportation from Azerbaijan, Kazakhstan and Turkmenistan to ports on the Black Sea.
The EBRD loan, extended to Georgian Railway LLC, will allow the nation to build a new double track railway route 10km north of Tbilisi, which will divert rail traffic around the city.
The project is expected to improve the efficiency and the safety of rail operations on the key east-west corridor within Georgia.
Construction is expected to be co-financed by the European Investment Bank and the EU’s Neighbourhood Investment Facility.
Over €50m has so far been invested in Georgian transport infrastructure by the EBRD.