Tbilisi gets rail funding
19 March 2010
The European Bank for Reconstruction and Development (ERBD) has granted a € 100 million loan to Georgian Railway LLC for the construction of a new rail line to bypass the capital city of Tbilisi.
The new line will replace an existing section of railway that runs through the centre of the capital. The ERBD loan will part-finance the construction of the new double-track line, which will run 10 km to the north of Tbilisi. Additional funding will be provided by the EU's neighbourhood investment facility (NIF) and the German government.
The project is designed to improve the efficiency and safety of rail operations on the key east-west corridor within Georgia and will make available 70 Ha of land in central Tbilisi for urban development projects.
EBRD president, Thomas Mirow said, "The relocation of rail facilities outside the capital will enhance the security of the rail services and will boost the urban development of Tbilisi, providing new investment opportunities which will benefit the city."
