The European Investment Bank, the bank of the European Union, has provided an additional €106.7 million to the Government of Georgia for the upgrades of the East-West (E60) Highway, the country’s main road artery.
The loan from the EU bank will finance two upgrades: one, along the 30km-long section between Algeti and Sadakhlo, and the other, the 32 km-long section between Rustavi and the Red Bridge. The two upgrades will extend the highway to the borders with Armenia and Azerbaijan, respectively.
The operation improves road safety on the motorway, cuts travel times, reduces vehicle operating and maintenance costs, and increases the economic and territorial cohesion of Georgia. It will also improve connectivity within the South Caucasus region.
“With new trade opportunities for the country and the region alike, the East-West Highway will benefit Georgia for decades to come,” Teresa Czerwinska, Vice-President of the European Investment Bank responsible for EIB operations in Georgia, said. “This investment will also expand Team Europe’s support for faster recovery of Georgia from the devastating COVID-19 crisis. It comes on top of the €170 million that the EIB invested in the country’s SMEs and healthcare system during 2020 alone.”
To date, the EIB has invested close to €1 billion on the East-West Highway, which represents nearly half of its total investments in the country.
Once completed, the East-West Highway will offer a quicker and safer traffic alternative to existing connections, and integrate Georgia with the Trans-European Transport (TEN-T) Network. The TEN-T spans the European Union and strengthens social, economic and territorial cohesion in the Union, while its extended networks, such as the East-West Highway, extend the same benefits to EU partner countries.
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