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TBILISI: EBRD To Participate In Rehabilitation OfRussia-Georgia-Arme

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  • TBILISI: EBRD To Participate In Rehabilitation OfRussia-Georgia-Arme

    EBRD TO PARTICIPATE IN REHABILITATION OF RUSSIA-GEORGIA-ARMENIA GAS PIPELINE

    Prime News Agency, Georgia
    March 16 2006

    Tbilisi, March 16 (Prime-News) - European Bank for Reconstruction and
    Development (EBRD) is satisfied with economic reforms implemented
    in Georgia and in 2006 intends to invest about EUR 90 million in
    Georgian economy.

    Nikolay Hadjiski, permanent representative of the EBRD in Georgia,
    stated about that noting that amount of the funding could be increased,
    Reuter informs.

    According to the EBRD representative, improvement of energy supply
    in the regions of Georgia will allow the Bank to implement more
    projects there.

    Besides, the EBRD intends to participate in rehabilitation of the gas
    pipeline, which is used for import of gas from the Russian Federation
    to Georgia and Armenia.

    EBRD plans to expand its activity in banking sector of Georgia by
    means of opening credit lines and participation in banks' capital.

    From: Emil Lazarian | Ararat NewsPress
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