The European Investment Bank, the Bank of the European Union, will invest up to €34 million in expanding the high-speed internet network bringing fast and reliable internet services to some 500,000 people living in 1,000 rural and remote settlements in Georgia.
The investment will finance the installation of 5,000 km of fiber optics telecommunications network and provide open-access infrastructure for Georgian telecom operators to provide their fast-internet services. The EU has provided a guarantee through the External Lending Mandate.
This project supports improved digital connectivity as one of the five flagship initiatives for Georgia under the European Union’s Economic and Investment Plan for the Eastern Partnership
“Investing in the digital transition in Georgia is key to stimulate jobs and growth and bring about prosperity,” said Carl Hartzell, Ambassador of the European Union to Georgia. “This flagship programme will assist in bringing new opportunities and reduce digital inequalities between rural and urban areas by developing high-speed broadband infrastructure for around 1,000 rural settlements. I consider this an important contribution to Georgia’s modernisation and economic development and recovery, while promoting digital inclusion in line with its national broadband strategy.”
The EIB loan will provide the digital backbone infrastructure required under Georgia’s Open Net Programme and promote and extend affordable broadband internet to individuals and enterprises in rural areas of Georgia. Open Net is the main component of the Log-In Georgia project, which promotes affordable broadband internet and extends its availability to individuals and enterprises in the country. Log-in Georgia supports the implementation of Georgia’s National Broadband Development Strategy 2020-2025, prepared with the support from the European Union and the World Bank.
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