The European Investment Bank (EIB) has lent Georgia 100 million euros ($114.45 million) to finance waste water collection and treatment infrastructure in the country’s second largest city of Kutaisi, the EIB vice president said on Thursday.
“Water and sanitary infrastructure is high on the EIB’s agenda in Georgia … This is another loan with a major environmental and health dimension,” László Baranyay said in a statement.
Baranyay is participating in the Silk Road international economic forum in Georgia.
The total project cost, which addresses water supply and wastewater investments in several municipalities in western Georgia, is 280 million euros, co-financed by the Asian Development Bank (172 million euros) and with grants from the Neighbourhood Investment Facility (4.75 million euros) and the Eastern Partnership Technical Assistance Trust Fund (3.25 million euros).
The EIB’s loan will be used to finance the rehabilitation and extension of the municipal sewerage system in Kutaisi and the construction of a mechanical biological wastewater treatment plant.