Georgia intends to attract $1 bln from ADB for infrastructure projects

TBILISI. May 4 (Interfax) - Georgia plans to sign a $1 billion infrastructure financing agreement with the Asian Development Bank (ADB) this year, Georgian Finance Minister Lasha Khutsishvili said.

"Work is underway with the Asian Development Bank, and as part of the existing action plan for this year, we plan to sign agreements to finance $1 billion in roadway and railway infrastructure projects," Khutsishvili was quoted as saying by bm.ge.

Khutsishvili said that the projects were discussed during meetings with ADB management at the bank's annual shareholders meeting.

"The Asian Development Bank is one of the leading financial institutions, having invested up to $6 billion in Georgia, and the value of ongoing projects exceeds $2 billion. The bank's president emphasized Georgia's central role in developing the Middle Corridor [Trans-Caspian International Transport Route, TITR] and confirmed its support for investment to further strengthen Georgia's role, including through significant infrastructure investments," Khutsishvili said.

Khutsishvili said that the ADB in April this year approved $1 billion in financing for the country as part of its strategy for Georgia, including $700 million potentially available for the public sector.