Tuesday, 10 June 2003

EBRD PLANS TO ALLOCATE 20 MLN EUROS TO GEORGIA IN 2003

Published in News Digest

By empty (6/10/2003 issue of the CACI Analyst)

The European Bank for Reconstruction and Development plans to allocate 20 million euros in loans to Georgia in 2003, Georgian President Eduard Shevarnadze said on national radio Monday, following last week\'s visit to Tbilisi by EBRD First Vice President Noreen Doyle. The EBRD has provided 197 million euros in loans to Georgia, implementing 28 projects, the president said. The EBRD is currently involved in projects to construct a major oil terminal in the Poti Port, repair the Enguri hydro power station and the Trans-Caucasian Rail Link project.
The European Bank for Reconstruction and Development plans to allocate 20 million euros in loans to Georgia in 2003, Georgian President Eduard Shevarnadze said on national radio Monday, following last week\'s visit to Tbilisi by EBRD First Vice President Noreen Doyle. The EBRD has provided 197 million euros in loans to Georgia, implementing 28 projects, the president said. The EBRD is currently involved in projects to construct a major oil terminal in the Poti Port, repair the Enguri hydro power station and the Trans-Caucasian Rail Link project. The president welcomed the EBRD\'s decision to invest in the banking sector without government guarantees, saying that it showed confidence in the country. In this way \"the biggest bank in Europe confirms that it does not doubt the reliability and stability of the Georgian banking system,\" he said. The EBRD is ready to finance construction of the Baku-Tbilisi- Ceyhan oil pipeline and the Baku-Tbilis-Erzrum gas pipeline, Shevarnadze said. (Interfax)
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