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ADB to Allocate USD 600 to Georgia by 2014 for Infrastructure Projects

  • Interfax citing Mr Dmitry Gvindadze Georgian Finance Ministry said in a press release citing Finance Minister as saying that the Asian Development Bank will allocate USD 500 million to USD 600 million to Georgia in the next two years for different infrastructure projects.

  • He said that "During meetings with ADB department heads and members of the board the outlook for cooperation in all sectors was agreed. Around USD 500 million to USD 600 million will be allocated over two years for highway construction, city, municipal and energy infrastructure and support for the private sector. This means the ADB will continue to encourage growth in Georgia.”

  • The ADB has already started looking at projects submitted by Georgia. These include reconstruction and construction of new roads, hydro power plants and water supply systems, transport infrastructure modernization and coastal protection work.

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