LOANS & CREDITS November 8, 2017

Additional Financing for the East-West Highway Corridor Improvement Project for Georgia

WASHINGTON, November 8, 2017 - The World Bank’s Board of Executive Directors today approved the following project: Additional Financing for the East-West Highway Corridor Improvement Project for Georgia

IBRD Loan: EUR16.9 million

Terms: Maturity = 24.5 years, Grace = 15.5 years

Project ID: P160152

Project Description: This project will contribute to the completion of the transport infrastructure backbone in Georgia. It will bring the East-West Highway up to European design standards and improve the level of service through the provision of key Intelligent Transport System (ITS) activities. Road safety improvements will also reduce the huge annual economic losses associated with road accidents. Once completed, the East-West Highway from Tbilisi to Batumi via Poti will provide direct access to 2.2 million people or more than half of the total population of Georgia.

For more information, please visit: http://projects.worldbank.org/P160152?lang=en


Contacts

Washington
Meriem Gray
Senior Communications Officer
mgray@worldbank.org
Tbilisi
Inga Paichadze
Senior Communications Officer
ipaichadze@worldbank.org
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