EBRD Boosts Georgia Power, Transport Sector

The European Bank for Reconstruction and Development will provide 180 million euros (USD247 million) to support power and transport sector development projects in Georgia, the Georgian Times reports. The bank allotted 80 million euros to finance the construction of a power transmission system that will extend from Georgia to Turkey. EBRD also allocated 100 million euros to help build a new railway route in the city of Tbilisi. This project aims to improve the safety and efficiency of rail operations in the city as well as consolidate all of its existing railway facilities.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.