“The agreement signed today with the World Bank is critically important both for strengthening the country’s internal functioning and connectivity, and for its broader regional significance,” stated the Georgian Minister of Finance, Lasha Khutsishvili, when discussing the loan agreement finalised between Georgia and the International Bank for Reconstruction and Development (IBRD).

The Minister explained that the project provides Georgia with USD 372 million in funding, which will be invested in improving road infrastructure and modernising the Georgian Railway.

“Both sectors are exceptionally important, not only for enhancing the country’s internal operations and connectivity, but also from a regional perspective. This agreement forms part of a much broader financing package which will ultimately secure a total of USD 750 million for Georgia. Supplementary agreements within this framework will be signed over the coming months. Alongside the World Bank, the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) are also participating in this initiative.

In tandem with this, we plan to sign a further agreement worth approximately USD 350 million dedicated to road infrastructure. We can confidently say that in the near future, agreements totalling USD 1.2 billion to USD 1.3 billion will be finalised, which will make a monumental contribution to the development of both road and other essential infrastructure across Georgia,” Lasha Khutsishvili stated.