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2019-03-13 00:00:00
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The new EIB support for Georgia’s transportation system includes: • A loan of €250m to aid in the construction, repair and safety improvements for roads on Georgia’s East- West Highway, part of the TEN-T (Trans-European Transport) network. • €1bn of EIB funding for projects designed to improve transport integration/connectivity in Georgia. • Additional benefits to include better international and regional connections to the area, as well as new employment prospects and local transportation. • €6.1m in grand funding for technical assistance received via the EU’s Neighbourhood Investment Platform (NIP). The Eastern Partnership Technical Assistance Fund (EPTAF) have supplied two experts to assist the region. As a result of this investment Georgia will enjoy better connections to other countries within the EU and much safer internal travel conditions. The European Investment bank, along with other EU financial institutions have pledged their continuing support in upgrading the infrastructure and the safety of transportation in Georgia. They are supporting key projects like the East-West Highway and other Government approved transportation upgrades.
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