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The EBRD remains in the "Georgian Railways", without money

2011-09-20 12:37

The EBRD remains in the "Georgian Railways", without money. 22173.jpegRepresentatives of the European Bank for Reconstruction and Development (EBRD) decided to stay in the project of construction a bypass railway in the Georgian capital. However, as reported by "Business-Georgia," other structures will finance the project. This was told reporters today by the Minister of Economy and Sustainable Development of Georgia Vera Kobalia. However, she did not specify exactly who will carry out these financial injections.

Kobalia only recalled that the construction of a bypass railway is scheduled for completion in 2013. The total work budget is about 170 million euros. 100 million euros of which the Eurobank will to provide as a loan.

Earlier, a number of the Georgian media reported that authorities of Sakartvelo decided to terminate its agreement with the EBRD on this project.

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