Georgia to receive additional 34.5 mln euros from World Bank to complete internet development project
TBILISI. Sept 10 (Interfax) - The Georgian government has agreed with the World Bank on an additional loan of 34.5 million euros to complete the project for providing access to broadband internet, Log-in Georgia, First Deputy Finance Minister Giorgi Kakauridze said while presenting the bill on attracting the loan in the Georgian parliament.
"This is a resource that will ultimately allow all settlements in Georgia with a population of more than one thousand people to have access to broadband internet. Accordingly, all such settlements will be fully internet-enabled," Kakauridze was quoted by parliament's press service as saying.
The loan term is 25 years, including a ten-year grace period. The utilization of funds is planned until the end of 2027.
"As part of the Log-In Georgia project, we essentially have two agreements: one with the International Bank for Reconstruction and Development, and the other with the European Investment Bank. We have taken a loan totaling approximately 70 million euros. Now the project needs to be completed, which requires about $40 million. The allocated 70 million euros have already been contracted, and the corresponding work is underway," Kakauridze said.
The Georgian Economy Ministry will attract the World Bank funds, and they will be utilized through the state-owned company Open Net (which implements Log-in Georgia) in accordance with tenders that will be conducted under the lender's rules, he said.
Georgia has been implementing the broadband internet development program since 2015 as part of its obligations undertaken under the Association Agreement with the European Union. To implement the program, the Economy Ministry established the company Open Net Public Limited. The program involves developing infrastructure and providing high-speed internet at an affordable price. Infrastructure work began in 2020. Under the Log-in Georgia project, a total of 5,000 km of backbone fiber-optic infrastructure will be built by the end of 2025. At the end of 2024, the length of the built network was 1,300 km.
