13.Apr .2022 10:00

The Parliament Ratified Loan Agreement Between Georgia And The EBRD

The Parliament Ratified Loan Agreement Between Georgia And The EBRD
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The Parliament discussed the Draft Resolution on Ratification of the Change N2 to the Loan Agreement between Georgia and EBRD (Batumi Bus Project) and adopted it with 83 votes.

On July 13, 2017, the Agreement was signed envisaging the financing of the acquisition of new, eco-friendly electronic and diesel buses for Batumi Municipality.

For this project, EBRD has allocated 5,5 ml EURO, and the Eastern E5P Fund issued the grand of 1,5 ml EURO. The first change has been introduced to the Agreement.

The submitted Change N2 envisages the consumption of the non-transferred funds for the development of the Batumi transport system, implying the acquisition and installment of the e-tableaus.

“The Agreement does not envisage a claim of a new loan but implies the utilization of the saved funds on the development of transport system”, - the Deputy Finance Minister, Giorgi Kakauridze stated.