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EBRD to finance a construction of dump in Ajaria2010-02-19 12:12
European Bank for Reconstruction and Development will finance the construction of a new dump in Chakvi [Ajaria Autonomous Republic, Georgia ] - Georgia Times correspondent.gt-en-newsitem-inside
According to the Ministry of Finance, the agreement was signed yesterday by the Minister of Finance KakhaBaindurashvili and EBRD Operation Leader Paul Covenden.
The credit agreement implies allocation of EUR 3 mln for 15 years, with 3 years of grace period.
Beside the construction of the dump, sorting and recycling of the refuse are implied. It will favor improvement of the region's ecologic state, luring new investments and increase of income.
The total cost of the project amounts EUR 9.5; out of them a EUR 4 mln grant is allocated by SIDA [Swedish International Development Cooperation Agency]; EUR 1.2 mln is the grant of technical cooperation; EUR 1.3 mln - co-financing of the Georgian side.