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USAID to allocate Georgia USD 8.9 mln for luring investments

2010-06-17 11:26

United States Agency for International Development [USAID] will allocate Georgia USD 8.9 mln for implementation of project on luring investments in energy sphere of economy - Georgia Times correspondent.


According to the Ministry of Energy of Georgia, the project term is 3 years. It's aimed to help the Georgian government lure local and foreign investments in energy sector. The purpose of the project is to add 400 MWatt of ecologically pure, renewable energy, in the energy system.

The Ministry states the new capacities will ensure energy independency of the country and at the same time satisfy the growing demand of energy markets of Turkey and East Europe.

The project of assistance in luring investments in the energy sector is a part of U.S. government post-conflict investment, with the total sum of USD 125 mln. It's also a part of 1bn dollar aid, promised to the Georgian people by American government.

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