The European Investment Bank (EIB) is lending EUR 100 million to finance wastewater collection and treatment infrastructure in Kutaisi.
In Kutaisi, Georgia's second largest city with approximately 200 000 inhabitants, the EIB will finance the rehabilitation and extension of the municipal sewerage system and the construction of a mechanical biological wastewater treatment plant.
EIB Vice-President László Baranyay, responsible for the Bank's operations in Georgia commented: "Water and sanitary infrastructure is high on the EIB's agenda in Georgia, in line with the government's priorities. We have already financed a number of projects in this sector across the country, and this is another loan with a major environmental and health dimension."
Ambassador of the European Union to Georgia, Janos Herman, noted: "The European Union makes full use of its tools, including EIB loans and special grants to help improving the lives of Georgians. The Kutaisi project is an important example of this, and I look forward to many similar endeavours in the coming years."
The total project cost, which addresses water supply and wastewater investments in several municipalities in western Georgia, is EUR 280 million, co-financed by the Asian Development Bank (EUR 172 million) and with grants from the Neighbourhood Investment Facility (EUR 4.75 million) and the Eastern Partnership Technical Assistance Trust Fund (EUR 3.25 million).
Background information:
The EIB – the European Union's bank – finances projects in Georgia on the basis of an EU mandate for the countries of the Eastern Neighbourhood, the so-called External Lending Mandate (ELM). The 2014-2020 ELM provides for a total amount of Bank financing in the Eastern Neighbourhood of EUR 4.8 billion to support projects of significant interest to both the EU and its Eastern Neighbours in the areas of social and economic infrastructure, local private sector development and climate change. In addition, the Bank has set up a EUR 3 billion own-risk Neighbourhood Finance Facility to enhance its support for the Neighbourhood Countries.
The EIB is committed to stepping up its support for Georgia following the signature in June 2014 of the EU-Georgia Association Agreement, which includes a Deep and Comprehensive Free Trade Agreement (AA/DCFTA). This Agreement significantly deepens political and economic ties with the EU in the framework of the Eastern Partnership.
In Kutaisi, Georgia's second largest city with approximately 200 000 inhabitants, the EIB will finance the rehabilitation and extension of the municipal sewerage system and the construction of a mechanical biological wastewater treatment plant.
EIB Vice-President László Baranyay, responsible for the Bank's operations in Georgia commented: "Water and sanitary infrastructure is high on the EIB's agenda in Georgia, in line with the government's priorities. We have already financed a number of projects in this sector across the country, and this is another loan with a major environmental and health dimension."
Ambassador of the European Union to Georgia, Janos Herman, noted: "The European Union makes full use of its tools, including EIB loans and special grants to help improving the lives of Georgians. The Kutaisi project is an important example of this, and I look forward to many similar endeavours in the coming years."
The total project cost, which addresses water supply and wastewater investments in several municipalities in western Georgia, is EUR 280 million, co-financed by the Asian Development Bank (EUR 172 million) and with grants from the Neighbourhood Investment Facility (EUR 4.75 million) and the Eastern Partnership Technical Assistance Trust Fund (EUR 3.25 million).
Background information:
The EIB – the European Union's bank – finances projects in Georgia on the basis of an EU mandate for the countries of the Eastern Neighbourhood, the so-called External Lending Mandate (ELM). The 2014-2020 ELM provides for a total amount of Bank financing in the Eastern Neighbourhood of EUR 4.8 billion to support projects of significant interest to both the EU and its Eastern Neighbours in the areas of social and economic infrastructure, local private sector development and climate change. In addition, the Bank has set up a EUR 3 billion own-risk Neighbourhood Finance Facility to enhance its support for the Neighbourhood Countries.
The EIB is committed to stepping up its support for Georgia following the signature in June 2014 of the EU-Georgia Association Agreement, which includes a Deep and Comprehensive Free Trade Agreement (AA/DCFTA). This Agreement significantly deepens political and economic ties with the EU in the framework of the Eastern Partnership.
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